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
AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results
Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared
Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?
With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard
