Newmont Mining Shares Slide Despite Earnings Beat -- Earnings Review

   By Cara Lombardo

Newmont Mining Corp.'s (NEM) shares dropped 1.5% premarket Thursday even after the company topped expectations with its fourth-quarter earnings. Here's what you need to know:

EARNINGS: The gold producer reported a net loss of $534 million, or 99 cents a share. Excluding the impact of the new tax law and one-time items, the company earned 40 cents a share. Analysts polled by Thomson Reuters had expected adjusted earnings of 38 cents a share.

REVENUE: Revenue increased 8% to $1.9 billion, which is what analysts expected.

TAX CHARGE: Newmont's quarterly results included $1.30 per share of tax adjustments, including a $346 million charge related to the remeasurement of deferred tax assets and liabilities, and a $395 million tax-restructuring charge.

GUIDANCE: The company expects attributable gold production to be between 4.9 million and 5.4 million ounces in 2018 and 2019. Production in 2017 was 5.3 million ounces, an 8% increase from the year earlier.

Write to Cara Lombardo at cara.lombardo@wsj.com

(END) Dow Jones Newswires

February 22, 2018 07:29 ET (12:29 GMT)

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