Newmont Mining Earnings Miss Estimates

Filed under: Earnings Reports , Newmont Mining (NEM) , Commodities Newmont Mining ( NEM ), the world’s largest gold producer, reported net income of $382 million or 77 cents a share , up from $162 million or 31 cents per share a year earlier. This was below analysts’ estimates of 84 cents, according to Bloomberg. Sales rose 34% to $2.15 billion. Shares of Newmont fell 38 cents Wednesday to $55.40 per share. Heavy rains in Indonesia were responsible for a shortfall at the Batu Hijau mine. Production there was down 6.8% to 82,000 ounces. This compares with 88,000 ounces during the first quarter. Gold output was also less than expected at Newmont’s Boddington mine in Australia. Continue reading Newmont Mining Earnings Miss Estimates Newmont Mining Earnings Miss Estimates originally appeared on BloggingStocks on Thu, 29 Jul 2010 09:30:00 EST. Please see our terms for use of feeds . Read  |  Permalink  |  Email this  |  Comments

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Newmont Mining Earnings Miss Estimates

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