Newmont Q2 Gold Production and Sales Results Mixed

Newmont Mining's (NYSE: NEM  ) most recent set of quarterly operational results were mixed, with attributable gold production meeting expectations.

Preliminary figures released this week by the company reveal that attributable gold production during Q2 was 1.17 million ounces, a slight gain on a quarter-over-quarter basis and a 1% drop from Q2 2012's 1.18 million. The tally for copper was 34 million pounds, which was down 10.5% from the 38 million notched in both the previous quarter and the year-ago period.

Attributable sales, meanwhile, came in at 1.21 million ounces for gold, a gain of 6% over both the preceding quarter's and Q2 2012's results of 1.14 million. Copper sales advanced to 37 million pounds, a healthy 19% higher on a quarter-over-quarter basis and 32% above the year-ago period.

For the entirety of 2013, Newmont estimates that attributable production will be 4.8 million-5.1 million ounces of gold, and 150 million-170 million pounds of copper.

The company is scheduled to release its Q2 results after market close on  July 25. A conference call is scheduled for the following day to discuss the quarter in greater depth.


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9/30/2016 4:01 PM
NEM $39.29 Up +0.24 +0.61%
Newmont Mining CAPS Rating: ***