Newmont Swings To Q4 Profit

(RTTNews) - Newmont Mining Corp. (NEM) reported net income for the fourth quarter of $15 million or $0.03 per share, compared to a net loss of $1.2 billion or $2.38 per share for the same quarter last year.

Income from continuing operations for the fourth quarter was $39 million or $0.08 per share, compared to a loss from continuing operations of $1.2 billion or $2.39 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $86 million or $0.17 per share, compared to $143 million or $0.28 per share in the prior year quarter .

Revenue for the fourth quarter fell to $2.02 billion from $2.19 billion a year earlier, due mainly to lower gold and copper prices and divestments.

Analysts polled by Thomson Reuters expected the company to earn $0.10 per share on revenue of $1.81 billion for the fourth quarter. Analysts' estimates typically exclude special items.

The company expects attributable gold production of between 4.6 to 4.9 million ounces in 2015, at CAS of between $660 and $710 per ounce and AISC of between $960 and $1,020 per ounce in 2015.