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Rithm Capital (NYSE:RITM) closed at $8.50 on October 13 and has returned -17.5% over the last six months, versus 14.0% for the State Street SPDR S&P 500 ETF Trust. The company calls itself a global asset manager, operating through Newrez in mortgage origination and servicing, lending to property developers, and managing money for outside investors through Sculptor. The stock trades at 0.76 times book value, but quarterly earnings fell 81.9% year over year, operating margin is 7.94%, and debt stands at 387.64% of equity. Shares are priced at 15.70 times trailing earnings and 4.06 times expected next-year earnings, a gap the article suggests may mean the market treats the recent profit drop as a one-off.
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- Tiris BFS Confirms Low - Cost , Near - Term Project | Company Announcement
The announcement sets out a production target and forecast financial information for the Tiris Uranium Project, based on Ore Reserves and Inferred Mineral Resources, and includes forward-looking risk warnings. By ore tonnes, 67.1% of the target comes from Ore Reserves (28.3% Proved, 38.8% Probable) and 32.9% from Inferred Mineral Resources; by contained U3O8, the split is 67.7% and 32.3%. Inferred resources make up less than 12% of ore mined in the first five years and less than 25% in the first ten years, and no exploration target is included. The company says the 91.3 Mlbs U3O8 Mineral Resource estimate reported on 12 June 2024 remains unchanged, and that the material assumptions, including availability of project finance, are set out in Appendix 4.
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