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Newmont's (NEM) Q2 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 second quarter came in at 26 cents per share. The figure beat the Zacks Consensus Estimate of 24 cents.
Revenues
Newmont reported revenues of $1,662 million, down around 11.4% year over year. The figure missed the Zacks Consensus Estimate of $1754.7 million.
Investors should note that the earnings estimate for Newmont for the second quarter has been going down 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 20.8%.
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 all-in sustaining costs unchanged for 2018 at between $965 and $1,025 per ounce. Costs applicable to sales 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!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Newmont's (NEM) Q2 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 second quarter came in at 26 cents per share. The figure beat the Zacks Consensus Estimate of 24 cents.
Revenues
Newmont reported revenues of $1,662 million, down around 11.4% year over year. The figure missed the Zacks Consensus Estimate of $1754.7 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 second quarter has been going down 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 20.8%.
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 all-in sustaining costs unchanged for 2018 at between $965 and $1,025 per ounce. Costs applicable to sales 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!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>