) rose on Thursday despite lowering its financial forecast for the year, citing the cost of weaker consumer demand and the B.C. port workers strike.“Coming off CP’s 3Q23 conference call and our call back we’re raising our 4Q estimate by a penny to C$1.16 and are now modeling 2023 EPS of $3.82 ,” said Citi analyst Christian Wetherbee in a note.
Chief financial officer Nadeem Velani added that come January, “we’re going to have double-digit EPS growth in our sights.” Newmont reached a resolution with the National Union of Mine and Metal Workers of the Mexican Republic on Penasquito earlier this month and expects to reach full operating capacity at the mine by the end of the fourth quarter.Newmont lowered its 2023 gold production forecast to 5.3 million ounces from 5.7-6.3 million ounces in the previous quarter.
“We look forward to closing the transaction on November 6 and providing our first integration update on the combined business in the first quarter of 2024,” Chief Executive Tom Palmer said in a statement.) earlier this month said it expected AISC per ounce of gold to fall about 6 per cent to 8 per cent from the previous quarter, reporting preliminary production of 1.04 million ounces of gold in the third quarter.
The total economic loss from the autoworkers’ strike has reached US$9.3-billon, consultancy Anderson Economic Group said earlier this week. Clients continued to cut back on discretionary projects, a trend that has remained unchanged since the last few quarters, he said. The 111-year-old company, which makes more than half of its revenue outside the United States, said a strong dollar during the three months ended Sept. 30 hurt its quarterly revenue by about US$250-million more than expected earlier.
The company says the profit amounted to $1.45 per diluted share for the quarter ended Sept. 30, down from $2.03 per diluted share in the same quarter last year.Precision Drilling says the 4.1 per cent increase in revenue compared with a year ago was due to further strengthening of drilling and service revenue rates, partially offset by lower activity.
It forecast total 2023 expenses at between US$87-billion and $89-billion, down from its earlier forecast range of US$88-billion to $91-billion. Meta has been climbing back from a bruising 2022, buoyed by the hype around emerging artificial-intelligence technology, a recovery in digital advertising and an aggressive austerity drive in which it shed around 21,000 employees since last autumn.Revenue rose 23 per cent to US$34.15-billion for the quarter ended September. Analysts were expecting revenue of US$33.56-billion, according to LSEG data.Meta’s daily active people grew by 7 per cent.
“Revenue missed across all three segments with supply-chain solutions missing by the most,” TD Cowen analyst Helane Becker said in a client note.
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