The world’s largest gold miner by market capitalisation Newmont on Wednesday disappointed investors with narrower-than-expected fourth-quarter headline earnings of $20-million, or $0.04 a share – $0.08 a share below Wall Street analyst forecasts – as lower realised metals prices and the impact of divestitures impacted the bottom line.
The Denver, Colorado-based company said a non-cash reclamation charge, tax valuation allowance adjustments and a one-time payment related to previous period royalties and taxes from the revised Ghana Investment Agreement impacted net income, which totalled a loss of $247-million, or $0.48 a share in the fourth quarter ended December 31, compared with net income of $39-million, or $0.08 a share for the comparable period of 2014.
