Newmont Mining Corporation (NEM - Free Report) is engaged in the production of gold, the exploration for gold and the acquisition and development of gold properties worldwide.
Earnings
Newmont’s adjusted earnings for the fourth quarter came in at 40 cents per share. The figure was in line with the Zacks Consensus Estimate.
Revenues
Newmont reported revenues of $1,935 million, up around 8.2% year over year. The figure missed the Zacks Consensus Estimate of $1,957.6 million.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Newmont for the fourth quarter has been increasing over the past month. The company has beaten the Zacks Consensus Estimate in three of the trailing four quarters while missing in one, with an average positive surprise of around 17.6%.
Key Developments to Note
Newmont expects attributable gold production in the range of 4.9–5.4 million ounces for 2018 and 2019 factoring in full potential mine plan, recovery improvements and throughput.
The company expects its AISC (all-in sustaining costs) for 2018 to be between $965 and $1,025 per ounce. Costs applicable to sales (CAS) for gold is expected between $700 and $750 per ounce.
The company’s attributable copper production forecast for 2018 remains in the range of 40,000-60,000 tons.
Zacks Rank
Currently, Newmont has a Zacks Rank #3 (Hold), but that could change following the company’s earnings report which was just released.
Market Reaction
Newmont’s shares were down 1.5% in the pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Newmont’s earnings report!
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Newmont Mining Corporation (NEM - Free Report) is engaged in the production of gold, the exploration for gold and the acquisition and development of gold properties worldwide.
Earnings
Newmont’s adjusted earnings for the fourth quarter came in at 40 cents per share. The figure was in line with the Zacks Consensus Estimate.
Revenues
Newmont reported revenues of $1,935 million, up around 8.2% year over year. The figure missed the Zacks Consensus Estimate of $1,957.6 million.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Newmont for the fourth quarter has been increasing over the past month. The company has beaten the Zacks Consensus Estimate in three of the trailing four quarters while missing in one, with an average positive surprise of around 17.6%.
Key Developments to Note
Newmont expects attributable gold production in the range of 4.9–5.4 million ounces for 2018 and 2019 factoring in full potential mine plan, recovery improvements and throughput.
The company expects its AISC (all-in sustaining costs) for 2018 to be between $965 and $1,025 per ounce. Costs applicable to sales (CAS) for gold is expected between $700 and $750 per ounce.
The company’s attributable copper production forecast for 2018 remains in the range of 40,000-60,000 tons.
Zacks Rank
Currently, Newmont has a Zacks Rank #3 (Hold), but that could change following the company’s earnings report which was just released.
Market Reaction
Newmont’s shares were down 1.5% in the pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Newmont’s earnings report!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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