Should you watch these mining stocks this year? - Kalkine Media

January 19, 2023 03:05 AM PST | By Mridul Gogoi
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  • Barrick Gold Corporation has a dividend yield of 2.133 per cent.
  • Newmont Corporation has a three-year dividend growth of 39.80.
  • Newmont posted US$ 3.1 billion of consolidated cash in Q3 2022.

Mining companies are an integral part of a country's economy, and stocks are also an important element of the equity market. So, how have the mining stocks performed in the volatile 2022? Will they perform any differently this year?

Here, we look at two US mining stocks and how they have fared in recent quarters:

Barrick Gold Corporation (NYSE: GOLD)

Barrick Gold Corporation is a mining company headquartered in Toronto, Canada. The company has a dividend yield of 2.133 per cent.

Barrick Gold’s third-quarter 2022 operating cash flow was US$ 758 million.

The company announced that under the US$ 1 billion share buyback plan, shares worth US$ 322 million already been repurchased through the third quarter of 2022.

Barrick Gold reported Q3 2022 net earnings of US$ 241 million compared to US$ 347 million in the year-ago quarter.

Barrick also announced a dividend of US$ 0.15 per share for the third quarter of 2022. The GOLD stock returned 9.14 per cent YTD.

Newmont Corporation (NYSE: NEM)

Greenwood Village, Colorado-based Newmont Corporation, is the world's largest gold mining corporation. The company has gold mines in Nevada, Colorado, Ontario, Quebec, Mexico, and many other places.

With a dividend yield of 4.193 per cent, Newmont Corporation has a three-year dividend growth of 39.8. It has an EPS of 1.26 and a P/E ratio of 43.10.

Newmont achieved US$ 3.1 billion of consolidated cash in the third quarter of 2022. The company’s attributable gold production rose three per cent to 1,487 thousand ounces in Q3 2022 compared to the prior year's corresponding quarter.

The Q3 2022 GAAP net income of Newmont from continuing operations was 218 million versus a net loss of US$ 8 million in the year-ago quarter.

On the other hand, the adjusted net income was reported at US$ 212 million in Q3 2022 compared to US$ 483 million in the same period a year earlier.

Newmont Corporation Q3 GAAP net income and adjusted net incomeSource: ©2023 Krish Capital Pty. Ltd; © Canva Creative Studio via

Bottom line

It is better to wait and watch during market volatility rather than take quick decisions that might turn risky.



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