Newmont Mining Corp. (NEM) Misses Q2 EPS by 8c
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Newmont Mining Corp. (NYSE: NEM) reported Q2 EPS of $0.90, $0.08 worse than the analyst estimate of $0.98. Revenue for the quarter came in at $2.38 billion versus the consensus estimate of $2.51 billion.
The Company is maintaining its previously announced 2011 outlook for attributable gold production of 5.1 to 5.3 million ounces at CAS of between $560 and $590 per ounce (on a co-product basis) and 2011 attributable copper production of 190 to 220 million pounds at CAS of between $1.25 and $1.50 per pound. Newmont is maintaining its 2011 attributable capital expenditure outlook of $2.1 to $2.5 billion, or $2.7 to $3.0 billion on a consolidated basis.
The Company is maintaining its previously announced 2011 outlook for attributable gold production of 5.1 to 5.3 million ounces at CAS of between $560 and $590 per ounce (on a co-product basis) and 2011 attributable copper production of 190 to 220 million pounds at CAS of between $1.25 and $1.50 per pound. Newmont is maintaining its 2011 attributable capital expenditure outlook of $2.1 to $2.5 billion, or $2.7 to $3.0 billion on a consolidated basis.
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