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Newmont Mining Corp. (NEM) Large component of XAU
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optionetics tech support  [Staff Writer] (7202 posts) wrote on 2/27/06 9:01 AM
Newmont Mining Corp. (NEM) reported fourth-quarter earnings from continuing operations of $72 million, or 16 cents a share, down from a year-ago equivalent profit of $150 million, or 34 cents a share. The company said the latest results include items, such as losses on the writedown of certain assets, that decreased earnings by a total of $84 million, or 19 cents a share. Revenue rose in the latest three months to $1.31 billion from $1.2 billion in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a profit of 36 cents a share in the December period on revenue of $1.4 billion. The Denver-based attributed the lower earnings to industry-wide cost pressures. Consolidated gold sales totaled 2.4 million ounces for the quarter with an average realized gold price of $472 ounce. The stock closed Friday at $58.10, up 2.7%.


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