Earnings Report: Newmont Mining (NYSE:NEM) Reports Strong Q4 Results, Top Line Up 90%

2/25/2010-Newmont Mining (NYSE:NEM) reported Q4 EPS of $1.14, toppling consensus estimates of $0.79.

Revenues for the quarter rose 90% year-over-year to $2.5 billion, topping consensus estimates of $2.0 billion.

In 2010, the company anticipates consolidated capital expenditures to decline by approximately 15% from 2009 to between $1.4 and $1.6 billion ($1.2 to $1.4 billion on an equity basis).

The average realized gold price was $1,102 per ounce, while the average realized copper price was $3.24.

Richard O'Brien, President and CEO, commented, "The combination of slightly higher production, lower costs and gold price leverage generated cash flow from operations of $2.9 billion on record revenues of $7.7 billion, while our gold operating margin expanded to 57%. With the completion of construction of Boddington late last year, we now turn our attention to the development of our next generation of projects, including Akyem in Ghana, Conga in Peru, Hope Bay in Canada and our portfolio of growth projects in Nevada."

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