Today, 6:38 PM
- Barrick Gold (NYSE:ABX) -0.7% AH after missing Q2 earnings expectations by a penny and saying it will explore selling its 50% stake in western Australia's Kalgoorlie mine to further trim its debt.
- Newmont Mining (NYSE:NEM), ABX's joint venture partner at Kalgoorlie, said last September that it was interested in buying out the rest of the mine.
- ABX says it has reduced its total debt by $968M YTD after cutting $3.1B in 2015, and remains on track to cut debt by at least $2B this year; over the medium term, it aims to reduce total debt to below $5B from $9B currently and lower all-in sustaining costs to below $700/oz. by 2019 after reporting AISC of $782/oz. for Q2, down nearly 13% Y/Y.
- ABX says Q2 gold production fell 7.5% to 1.34M oz. and its average realized gold price rose to $1,259/oz. from $1,190 a year earlier; ABX reaffirms its full-year gold production outlook of 5M-5.5M oz. and lowers its AISC guidance to $750-$790/oz. from $760-$810/oz.
- Q2 copper output rose to 380M-430M lbs. from 370M-410M lbs. with the start of commercial production at its 50%-owned Jabal Sayid mine in Saudi Arabia.
Wed, Jul. 20, 6:22 PM
- Newmont Mining (NYSE:NEM) +2% AH after easily exceeding analyst expectations for Q2 earnings and revenues, benefiting from higher gold production and lower costs.
- NEM says it produced 1.3M oz. of attributable gold and 38K metric tons of copper during Q2, compared to 1.2M oz. of gold and 42K metric tons of copper in the prior-year quarter.
- All-in sustaining costs for gold improved to $876/oz. in Q2 from $909/oz. in the prior-year quarter, and copper AISC improved to $1.53/lb. vs. $1.61/lb. a year ago.
- NEM issues a new gold production forecast, excluding the Batu Hijau mine in Indonesia, which it is selling: the miner now expects output of 4.7M-5M oz. in 2016, rising to 4.9M-5.4M oz. in 2017 and remain stable at 4.5M-5M oz. through 2020.
- NEM also lowers its AISC guidance to $870-$930/oz. for 2016 from a previous outlook for $880-$940; 2017 guidance remains at $850-$950/oz.
Wed, Jul. 20, 4:17 PM
Tue, Jul. 19, 5:35 PM
Wed, Apr. 20, 5:25 PM
- Newmont Mining (NYSE:NEM) +1.8% AH after Q1 earnings beat analyst expectations with help from higher production and lower costs.
- NEM says Q1 attributable gold production rose 3.3% Y/Y to 1.23M oz. while copper output gained 2.7% to 38K metric tons, keyed by increased production at Batu Hijau in Indonesia; all-in sustaining costs improved to $828/oz. of gold from $849 in the same quarter a year ago.
- NEM says average realized gold and copper prices in the quarter fell to $1,194/oz. and $2.02/lb., respectively, vs. $1,203/oz. and $2.34/lb. in the year-ago period.
- The miner reaffirmed gold production guidance of 4.8M-5.3M oz. in 2016, rising to 5.2M-5.7M oz. in 2017 and remaining stable at 4.5M-5M oz. through 2020.
- NEM also says vice chair Noreen Doyle has been appointed to succeed Vincent Calarco as Chairman; Calarco will remain as a director.
Wed, Apr. 20, 4:18 PM
Tue, Apr. 19, 5:35 PM| Tue, Apr. 19, 5:35 PM | 16 Comments
Wed, Feb. 17, 5:34 PM
- Newmont Mining (NYSE:NEM) -2.9% AH after reporting weaker than expected Q4 earnings of $0.04/share, down from $0.17 in the year-ago quarter, on 10% lower revenues of $1.82B, hurt by lower metal prices and delayed exports from Indonesia.
- NEM says its average realized gold and copper price fell to a respective $1,084/oz. and $1.86/lb. in Q4, compared with $1,194/oz. and $2.55/lb. a year earlier.
- NEM says Q4 gold production was flat at 1.3M oz., while copper production reached 39K metric tons vs. 29K a year earlier due to a higher grade ore at the Batu Hijau location.
- NEM guides gold production of 4.8M-5.3M oz. in 2016 and 5.2M-5.7M oz. in 2017, before stabilizing at 4.5M-5M oz. through 2020 at all-in sustained costs below $1K/oz.
Wed, Feb. 17, 5:18 PM
Tue, Feb. 16, 5:35 PM| Tue, Feb. 16, 5:35 PM
Oct. 28, 2015, 5:41 PM
- Newmont Mining (NYSE:NEM) +2.4% AH after Q3 earnings and revenues beat analyst estimates, as higher production and lower costs helped offset a drop in gold prices.
- NEM says the average realized gold price fell to $1,104/oz. in Q3 from $1,270/oz. in the year-ago quarter, while copper averaged $1.95/lb. from $2.71 a year earlier; Q3 gold production gained 16% Y/Y to 1.34M oz., while copper production totaled 48K metric tons, up from 13K metric tons a year earlier.
- NEM’s Q3 all-in sustaining cost was $835/oz. of gold, better than the $995/oz. in the year-ago period, and it forecasts AISC of $880-$940 for the full year as well as capital spending of $1.42B-$1.63B.
- NEM says it remains on track to meet its full-year production outlook for gold at 4.55M-4.94M oz. and for copper at 130K-160K tons.
- Also, NEM announces plans to expand its Tanami operations in Australia by building a second decline at the mine and expanding plant capacity, which is expected to raise gold production by 80K oz. and cut Tanami's costs by 5%-10% in the first five years of production.
Oct. 28, 2015, 5:11 PM
- Newmont Mining (NYSE:NEM): Q3 EPS of $0.23 beats by $0.06.
- Revenue of $2B (+14.3% Y/Y) beats by $70M.
- Shares +1.9% AH.
Oct. 27, 2015, 5:35 PM
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Jul. 22, 2015, 6:26 PM
- Newmont Mining (NYSE:NEM) -0.9% AH after reporting Q2 earnings in line with analyst expectations, as lower oil prices and favorable exchange rates offset the impact of weaker metal prices.
- Citing these factors and portfolio changes such as the acquisition of the Cripple Creek & Victor mine, NEM raises its gold production forecast and lowers its cost outlook.
- NEM now expects attributable gold production of 4.7M-5.1M oz. in 2015, up from a prior forecast of 4.55M-4.9M oz., and sees production rising to 5.2M-5.5M oz. in 2017; consolidated all-in sustaining costs are now seen at $920-$980/oz. in 2015, down from an earlier forecast of $960-$1,020.
- NEM projects full-year copper production of 140K-180K metric tons, up from 130K-160K metric tons, and affirms previous guidance for output to level out to 115K-135K metric tons in 2016 and 2017.
- NEM's Q2 attributable gold production rose to 1.24M oz. of gold and 41K metric tons of copper, vs. 1.22M oz. of gold and 20K tons of copper in the year-ago quarter; all-in sustaining costs to produce an ounce of gold improved to $909/oz. from $1,063 a year ago.
Jul. 22, 2015, 4:21 PM
- Newmont Mining (NYSE:NEM): Q2 EPS of $0.26 in-line.
- Revenue of $1.9B (+8.0% Y/Y) misses by $70M.
Newmont Mining Corp. is a gold producer, which is engaged in the acquisition, exploration and production of gold and copper properties in U.S., Australia, Peru, Indonesia, Ghana, Canada, New Zealand and Mexico. The company's operating segments include North America, South America, Asia Pacific... More
Sector: Basic Materials
Country: United States
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