Newmont reported its fourth-quarter results as higher yellow metal sales and improved prices pushed sales 8% higher to $1.94 billion from a year ago. The company’s board declared $0.14 per share as the dividend for the quarter.
On a GAAP basis, net loss came in at $527 million. On the flip side, non-GAAP earnings, excluding tax charges and other items, was $0.40 per share, which spiked 60% from that of the same quarter in 2016.
The gold miner recorded a $346 million charge due to changes in deferred tax assets and liabilities and a restructuring fee of $395 million. For the quarter, gold all-in sustaining costs (AISC), a key metric tracked by the Street, rose 5% to $968 per ounce.
Outlook
Newmont expects to produce 4.9 to 5.4 million ounces of gold in 2018 and 2019 and the gold AISC to range between $965 and $1,025 per ounce in 2018.
Most Popular
Earnings calendar for the week of June 14
Latest economic data evoked mixed sentiment this week -- the rebound in economic activity has raised inflation concerns while jobless claims declined for the sixth week in a row. The
GameStop (GME) Earnings: Q1 loss narrows on 25% sales growth
Video game retailer GameStop Corp. (NYSE: GME), which has become the talk of the town after the unprecedented stock rally in recent weeks, reported a narrower loss for the first
Should you invest in Steel Dynamics (STLD) stock after 78% rally?
The steel industry managed to shrug off the pandemic blues earlier than expected as the recovery in industrial activity pushed up demand. With the vaccination drive and the government’s aggressive
