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Newmont's (NEM) Q1 Earnings Beat, Sales Miss Estimates
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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 first quarter came in at 35 cents per share. The figure beat the Zacks Consensus Estimate of 33 cents.
Revenues
Newmont reported revenues of $1,817 million, up around 7.5% year over year. The figure however, missed the Zacks Consensus Estimate of $1,847.2 million.
Investors should note that the earnings estimate for Newmont for the first quarter has been stable over the past month. The company has beaten the Zacks Consensus Estimate in three of the trailing four quarters, with an average positive surprise of around 21.5%.
Key Developments to Note
Newmont continues to expect attributable gold production in the range of 4.9–5.4 million ounces for 2018 and 2019.
The company kept its AISC (all-in sustaining costs) unchanged for 2018 at between $965 and $1,025 per ounce. Costs applicable to sales (CAS) outlook for gold is also unchanged in the range of $700-$750 per ounce.
The company’s attributable copper production forecast for 2018 remains unchanged 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 inactive 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's (NEM) Q1 Earnings Beat, Sales Miss Estimates
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 first quarter came in at 35 cents per share. The figure beat the Zacks Consensus Estimate of 33 cents.
Revenues
Newmont reported revenues of $1,817 million, up around 7.5% year over year. The figure however, missed the Zacks Consensus Estimate of $1,847.2 million.
Newmont Mining Corporation Price and EPS Surprise
Newmont Mining Corporation Price and EPS Surprise | Newmont Mining Corporation Quote
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Newmont for the first quarter has been stable over the past month. The company has beaten the Zacks Consensus Estimate in three of the trailing four quarters, with an average positive surprise of around 21.5%.
Key Developments to Note
Newmont continues to expect attributable gold production in the range of 4.9–5.4 million ounces for 2018 and 2019.
The company kept its AISC (all-in sustaining costs) unchanged for 2018 at between $965 and $1,025 per ounce. Costs applicable to sales (CAS) outlook for gold is also unchanged in the range of $700-$750 per ounce.
The company’s attributable copper production forecast for 2018 remains unchanged 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 inactive 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 >>