Gold Bullion Investment

Earnings Report: Newmont Mining Net Income Rises Significantly, Reaffirms 2010 Guidance (NYSE:NEM)

Newmont Mining (NYSE:NEM) reported a fiscal first quarter net income of $546 million, or $1.11 per share, up from $189 million, or $0.40 per share, in the year-ago period. The company reported adjusted earnings of $0.83 per share. On average, analysts estimated first quarter net income of $0.79 per share. Newmont Mining said that average realized gold price rose 22%. Newmont Mining reaffirmed its 2010 guidance for equity gold production of 5.3 million to 5.5 million ounces and costs applicable to sales of $450 to $480 per ounce, which includes adjusted profit.

Tags: 2010, Earnings, Guidance, Income, Mining, Newmont, NYSENEM, Reaffirms, Report, Rises, Significantly