Newmont Mining earnings are 50 pct higher in Q1

American gold major Newmont Mining (NYSE:NEM) touted $628 million in operating cash flow in its Q1 that it released today. Here are the highlights directly from the company's news release:

  • Net income: Achieved net income attributable to shareholders from continuing operations of $175 million, or $0.35 per share, compared to $117 million or $0.23 per share the prior year quarter; adjusted net income1 was $229 million, or $0.46 per basic share, compared to $121 million or $0.24 per share the prior year quarter.
  • Consolidated cash flow: Generated cash from continuing operations of $628 million and free cash flow from continuing operations of $344 million, compared to $183 million and $(52) million the prior year quarter.
  • Consolidated adjusted EBITDA: Delivered adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”) of $815 million in the first quarter, compared to $493 million in the prior year quarter.
  • All-in sustaining costs: Gold and copper AISC was $849 per ounce and $1.73 per pound, respectively, compared with $1,034 per ounce and $3.67 per pound, respectively, in the prior year quarter

Newmont's outlook was largely unchanged.

"Total 2015 CAS and AISC are unchanged, but the Company’s revised outlook reflects a three percent reduction in Asia Pacific region costs, offsetting an increase in Africa costs. Boddington and Tanami CAS and AISC outlook for 2015 are lower than previous estimates due primarily to lower Australian dollar exchange rates and oil prices."