Newmont Mining with significant profit increase
30.04.2012/2011/2012 Denver - The American gold producer Newmont Mining shocked investors in December XNUMX with a billion-dollar loss. Now, however, the company has published its business results for the first quarter of XNUMX - and they are quite tough.
The company was able to generate a net profit of 561 million or 1,13 per share for the period. This corresponds to an increase of at least nine percent compared to the same period of the previous year. Adjusted US earnings were $ 578 million or $ 1,17 per share in the first quarter of the quarter, after the Company had reported adjusted earnings of 2011 million or 513 per share in the first quarter of 1,04.
Minas-conga still a problem child
According to the company, Americans plan to invest $ 4 million to $ 10 billion on a consolidated basis this year. However, as the Minas Conga project is likely to incur additional costs as a result of a new environmental audit, this amount could increase further. However, according to Newmont Mining, it is also possible that the project might have to be discontinued. In this case, the money should flow into other, promising projects.
After the catastrophic business results in the December quarter, the Americans seem to be caught again. Therefore, the stock continues to be a standard investment in the gold segment, although on closer inspection, one or the other is likely to have a higher outward potential.
(Www.emfis.com)
