Newmont Mining (NEM) Tops Q1 EPS by 23c, Reaffirms Production Guidance
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Newmont Mining (NYSE: NEM) reported Q1 EPS of $0.46, $0.23 better than the analyst estimate of $0.23. Revenue for the quarter came in at $1.97 billion versus the consensus estimate of $1.95 billion.
2015 – 2017 OUTLOOK
Newmont remains on track to meet its full year 2015 outlook for gold and copper production, CAS and AISC. Total 2015 CAS and AISC are unchanged, but the Company’s revised outlook reflects a three percent reduction in Asia Pacific region costs, offsetting an increase in Africa costs. Boddington and Tanami CAS and AISC outlook for 2015 are lower than previous estimates due primarily to lower Australian dollar exchange rates and oil prices. In Africa, Akyem CAS outlook for 2015 is also improved due to ongoing cost and efficiency improvements. The updated 2015 outlook includes increased capital spending for Long Canyon and additional power generation units at Ahafo and Akyem to mitigate ongoing load shedding in Ghana. As a result, 2015 AISC outlook is unchanged at Akyem and up slightly at Ahafo.
Newmont continues to expect 2016 and 2017 gold and copper production, CAS, AISC and sustaining capital outlook to remain unchanged from previous guidance, excluding the positive impact of Long Canyon Phase 1 announced earlier this month
| 2015 Outlooka | ConsolidatedProduction | AttributableProduction | ConsolidatedCAS | ConsolidatedAll-inSustainingCostsb | ConsolidatedTotal CapitalExpenditures | ||||||||||||||||||||
| (kozs, kt) | (kozs, kt) | ($/oz, $/lb) | ($/oz, $/lb) | ($M) | |||||||||||||||||||||
| North America | |||||||||||||||||||||||||
| Carlin | 850 | - | 910 | 850 | - | 910 | $840 | - | $900 | $1,090 | - | $1,170 | $270 | - | $290 | ||||||||||
| Phoenixc | 200 | - | 220 | 200 | - | 220 | $760 | - | $820 | $900 | - | $960 | $20 | - | $30 | ||||||||||
| Twin Creeksd | 410 | - | 440 | 410 | - | 440 | $530 | - | $570 | $700 | - | $750 | $60 | - | $70 | ||||||||||
| Long Canyon | $130 | - | $150 | ||||||||||||||||||||||
| Other North America | $10 | - | $20 | ||||||||||||||||||||||
| Total | 1,460 | - | 1,570 | 1,460 | - | 1,570 | $750 | - | $800 | $990 | - | $1,060 | $490 | - | $560 | ||||||||||
| South America | |||||||||||||||||||||||||
| Yanacochaf | 880 | - | 940 | 450 | - | 490 | $550 | - | $590 | $870 | - | $930 | $140 | - | $160 | ||||||||||
| Merian | $440 | - | $470 | ||||||||||||||||||||||
| Total | 880 | - | 940 | 450 | - | 490 | $550 | - | $590 | $950 | - | $1,020 | $580 | - | $630 | ||||||||||
| Asia Pacific | |||||||||||||||||||||||||
| Boddington | 700 | - | 750 | 700 | - | 750 | $790 | - | $850 | $910 | - | $980 | $70 | - | $80 | ||||||||||
| Tanami | 390 | - | 420 | 390 | - | 420 | $590 | - | $640 | $850 | - | $910 | $80 | - | $90 | ||||||||||
| Waihi | 130 | - | 150 | 130 | - | 150 | $570 | - | $610 | $760 | - | $820 | $10 | - | $20 | ||||||||||
| Kalgoorliee | 310 | - | 340 | 310 | - | 340 | $810 | - | $870 | $930 | - | $1,000 | $20 | - | $30 | ||||||||||
| Other Asia Pacific | $5 | - | $10 | ||||||||||||||||||||||
| Batu Hijauh | 590 | - | 640 | 270 | - | 290 | $440 | - | $480 | $600 | - | $640 | $120 | - | $130 | ||||||||||
| Total | 2,120 | - | 2,300 | 1,800 | - | 1,950 | $650 | - | $700 | $820 | - | $880 | $305 | - | $360 | ||||||||||
| Africa | |||||||||||||||||||||||||
| Ahafo | 300 | - | 330 | 300 | - | 330 | $770 | - | $830 | $1,100 | - | $1,180 | $100 | - | $120 | ||||||||||
| Akyem | 440 | - | 470 | 440 | - | 470 | $470 | - | $510 | $630 | - | $680 | $60 | - | $70 | ||||||||||
| Total | 740 | - | 800 | 740 | - | 800 | $600 | - | $640 | $860 | - | $920 | $160 | - | $190 | ||||||||||
| Equity Productiong | 100 | - | 130 | ||||||||||||||||||||||
| Corporate/Other | $10 | - | $20 | ||||||||||||||||||||||
| Total Gold | 5,200 | - | 5,610 | 4,550 | - | 4,940 | $660 | - | $710 | $960 | - | $1,020 | $1,545 | - | $1,760 | ||||||||||
| Phoenix | 15 | - | 25 | 15 | - | 25 | $2.10 | - | $2.30 | $2.50 | - | $2.70 | |||||||||||||
| Boddington | 25 | - | 35 | 25 | - | 35 | $2.20 | - | $2.50 | $2.80 | - | $3.10 | |||||||||||||
| Batu Hijauh | 200 | - | 220 | 90 | - | 100 | $1.00 | - | $1.20 | $1.50 | - | $1.70 | |||||||||||||
| Total Copper | 240 | - | 280 | 130 | - | 160 | $1.20 | - | $1.40 | $1.70 | - | $1.90 | |||||||||||||
| Consolidated Expense Outlooki | |||||
| General & Administrative | $170 | - | $190 | ||
| Other Expense | $150 | - | $175 | ||
| Interest Expense | $280 | - | $300 | ||
| DD&A | $1,160 | - | $1,240 | ||
| Exploration and Projects | $370 | - | $400 | ||
| Sustaining Capital | $880 | - | $950 | ||
| Tax Rate | 33% | - | 37% | ||
For earnings history and earnings-related data on Newmont Mining (NEM) click here.
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