Stock Monitor: Seabridge Gold Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 05, 2018 / Active-Investors.com has just released a free earnings report on Newmont Mining Corp. (NYSE: NEM) ("Newmont"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=NEM. The Company released its fourth quarter fiscal 2017 (Q4 FY17) and full fiscal year 2017 (FY17) financial and operating results on February 22, 2018. The Company's quarterly adjusted diluted earnings per share (EPS) surged 60% y-o-y, meeting market consensus estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Seabridge Gold Inc. (NYSE: SA), which also belongs to the Basic Materials sector as the Company Newmont Mining. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Newmont Mining most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
During Q4 FY17, Newmont reported sales of $1.94 billion, which came in 8% above the $1.79 billion reported in Q4 FY16. The Company attributed the increase in sales to a growth in sales volumes and higher average realized gold prices. However, the Company's sales numbers for Q4 FY17 missed market expectations of $1.96 billion.
The gold and copper mining Company reported a net loss from continuing operations attributable to stockholders of $534 million, or $0.99 loss per diluted share, in Q4 FY17, versus a net loss from continuing operations attributable to stockholders of $391 million, or $0.73 loss per diluted share, in the prior year's comparable quarter. The Company's adjusted income increased to $216 million, or $0.40 per diluted share, in Q4 FY17 from $133 million, or $0.25 per diluted share, in Q4 FY16. Additionally, Wall Street had also expected the Company to report an adjusted income of $0.40 per diluted share.
The Denver, Colorado-based Company's sales grew 9% to $7.35 billion in FY17 from $6.71 billion in FY16. The Company posted a net loss from continuing operations attributable to stockholders of $60 million, or $0.11 loss per diluted share, in FY17, versus a net loss from continuing operations attributable to stockholders of $220 million, or $0.41 loss per diluted share, in the prior year. Meanwhile, the Company's adjusted income rose to $780 million, or $1.46 per diluted share, in FY17 from $619 million, or $1.16 per diluted share, in FY16.
For the reported quarter, the Company's costs and expenses were $1.62 billion compared to $2.58 billion in Q4 FY16. The Company's net other expenses were $32 million in Q4 FY17 compared to $93 million in Q4 FY16. Newmont reported positive earnings before interest, tax, depreciation, and amortization (EBITDA) of $662 million in Q4 FY17 compared to negative EBITDA of $489 million in the year ago same period. Furthermore, the Company's adjusted EBITDA increased to $736 million in Q4 FY17 from $629 million in Q4 FY16.
The Company's gold production volume was 1.34 million ounces in Q4 FY17, up 1% from 1.32 million ounces in the previous year's comparable quarter. The gold sales volume grew 2% to $1.35 million ounces at $1,270/oz in Q4 FY17 from $1.33 million ounces at $1,193/oz in Q4 FY16. Furthermore, the Company's all-in sustaining costs were $968 per ounce in Q4 FY17 versus $918 per ounce in Q4 FY16.
For Q4 FY17, the Company's copper production volume was 11 thousand tons versus 13 thousand tons in the last year's corresponding quarter. For the reported quarter, the Company's copper sales volume was 13 thousand tons at $3.20/lb versus 14 thousand tons at $2.49/lb in Q4 FY16. Moreover, the Company's all-in sustaining costs associated with copper production were also down to $2.08/lb in Q4 FY17 from $2.31/lb in Q4 FY16.
Cash Flow and Balance Sheet
In the three months ended December 31, 2017, the Company's net cash generated by operating activities rose to $754 million from $590 million in Q4 FY16. Additionally, the Company's free cash flow grew to $445 million in the reported quarter from $289 million in Q4 FY16.
As on December 31, 2017, the Company's cash and cash equivalents balance stood at $3.26 billion compared to $2.76 billion as on December 31, 2016. Furthermore, the Company's non-current debt position stood at $4.06 billion on December 31, 2017, versus $4.05 billion as on December 31, 2016.
In its outlook for the full year FY18, Newmont's management expects gold production to be in the range of 4.9 million ounces to 5.4 million ounces. The Company anticipates cost of sales applicable to gold to be between $700 per ounce and $750 per ounce. Additionally, the Company projects the gold all-in sustaining costs guidance range to be $965 per ounce to $1,025 per ounce. Furthermore, the Company is targeting copper production volume to be in the band of 40 tons to 60 tons, with copper AISC to be in the range of $2.00 per pound to $2.20 per pound in FY18.
Stock Performance Snapshot
April 04, 2018 - At Wednesday's closing bell, Newmont Mining's stock slightly climbed 0.41%, ending the trading session at $38.99.
Volume traded for the day: 4.19 million shares.
Stock performance in the last month – up 1.85%; previous three-month period – up 2.18%; past twelve-month period – up 15.05%; and year-to-date – up 3.92%
After yesterday's close, Newmont Mining's market cap was at $20.78 billion.
Price to Earnings (P/E) ratio was at 32.52.
The stock has a dividend yield of 1.44%.
The stock is part of the Basic Materials sector, categorized under the Gold industry. This sector was up 0.1% at the end of the session.
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