Despite missing analyst estimates, Newmont lifts FY headline earnings 89%

February 21, 2017

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US gold major Newmont Mining has reported an 89% increase in full-year 2016 adjusted earnings of $619-million, or $1.16 a diluted share, missing average analyst forecasts calling for earnings of $1.54 a share.

The net loss attributable to Newmont stockholders from continuing operations narrowed to $220-million, or $0.41 a share, down from a net loss of $1-million for the 2015, as the company booked a $970-million impairment change on South America’s largest gold mine, Yanacocha, in Peru, related to the increased closure costs that extend over decades of reclamation.

Category: General