Newmont Mining Corp. (NEM, Financial) filed Quarterly Report for the period ended 2010-06-30.
Newmont Mining Corp. has a market cap of $28.09 billion; its shares were traded at around $58.1 with a P/E ratio of 18.2 and P/S ratio of 3.7. The dividend yield of Newmont Mining Corp. stocks is 0.7%. Newmont Mining Corp. had an annual average earning growth of 10.3% over the past 10 years. GuruFocus rated Newmont Mining Corp. the business predictability rank of 2.5-star.NEM is in the portfolios of Jean-Marie Eveillard of First Eagle Investment Management, LLC, Third Avenue Management, Richard Aster Jr of Meridian Fund, John Hussman of Hussman Economtrics Advisors, Inc., David Dreman of Dreman Value Management, PRIMECAP Management, Pioneer Investments, NWQ Managers of NWQ Investment Management Co, Eric Mindich of Eton Park Capital Management, L.P., Paul Tudor Jones of The Tudor Group, Bruce Kovner of Caxton Associates, Richard Snow of Snow Capital Management, L.P., Jeremy Grantham of GMO LLC, Kenneth Fisher of Fisher Asset Management, LLC, Steven Cohen of SAC Capital Advisors.
Net income attributable to Newmont stockholders for the second quarter of 2010 was $382, or $0.78 per share, compared to $162, or $0.33 per share, for the second quarter of 2009. Results for the second quarter of 2010 compared to the second quarter of 2009 were impacted by higher realized gold prices combined with higher gold and copper sales volumes. Net income attributable to Newmont stockholders for the first half of 2010 was $928, or $1.89 per share, compared to $351, or $0.73 per share, for the first half of 2009. Results for the first half of 2010 compared to the first half of 2009 were impacted by higher realized gold and copper prices, higher sales volumes, a $127 tax benefit related to the conversion of non-U.S. entities for income tax purposes in the first quarter of 2010 and $67 million of acquisition expenses related to Boddington in 2009.
Amortization increased in the second quarter of 2010 compared to the second quarter of 2009, as detailed in the table below. The increase in Amortization is due to the commencement of commercial production at Boddington in November 2009 and higher capitalized mine development in Nevada. Amortization increased in the first half of 2010 compared to the first half of 2009, as detailed in the table below. The increase in Amortization is due to the commencement of commercial production at Boddington and higher capitalized mine development in Nevada. We expect 2010 Amortization to be approximately $970 to $1,000.
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Newmont Mining Corp. has a market cap of $28.09 billion; its shares were traded at around $58.1 with a P/E ratio of 18.2 and P/S ratio of 3.7. The dividend yield of Newmont Mining Corp. stocks is 0.7%. Newmont Mining Corp. had an annual average earning growth of 10.3% over the past 10 years. GuruFocus rated Newmont Mining Corp. the business predictability rank of 2.5-star.NEM is in the portfolios of Jean-Marie Eveillard of First Eagle Investment Management, LLC, Third Avenue Management, Richard Aster Jr of Meridian Fund, John Hussman of Hussman Economtrics Advisors, Inc., David Dreman of Dreman Value Management, PRIMECAP Management, Pioneer Investments, NWQ Managers of NWQ Investment Management Co, Eric Mindich of Eton Park Capital Management, L.P., Paul Tudor Jones of The Tudor Group, Bruce Kovner of Caxton Associates, Richard Snow of Snow Capital Management, L.P., Jeremy Grantham of GMO LLC, Kenneth Fisher of Fisher Asset Management, LLC, Steven Cohen of SAC Capital Advisors.
Highlight of Business Operations:
The following discussion provides information that management believes is relevant to an assessment and understanding of the consolidated financial condition and results of operations of Newmont Mining Corporation and its subsidiaries (collectively, Newmont, the Company, our and we). We use certain non-GAAP financial performance measures in our MD&A. For a detailed description of each of the non-GAAP financial measures used in this MD&A, please see the discussion under Non-GAAP Financial Performance Measures beginning on page 59. References to A$ refer to Australian currency, C$ to Canadian currency, IDR to Indonesian currency, NZ$ to New Zealand currency and $ to United States currency.Net income attributable to Newmont stockholders for the second quarter of 2010 was $382, or $0.78 per share, compared to $162, or $0.33 per share, for the second quarter of 2009. Results for the second quarter of 2010 compared to the second quarter of 2009 were impacted by higher realized gold prices combined with higher gold and copper sales volumes. Net income attributable to Newmont stockholders for the first half of 2010 was $928, or $1.89 per share, compared to $351, or $0.73 per share, for the first half of 2009. Results for the first half of 2010 compared to the first half of 2009 were impacted by higher realized gold and copper prices, higher sales volumes, a $127 tax benefit related to the conversion of non-U.S. entities for income tax purposes in the first quarter of 2010 and $67 million of acquisition expenses related to Boddington in 2009.
Amortization increased in the second quarter of 2010 compared to the second quarter of 2009, as detailed in the table below. The increase in Amortization is due to the commencement of commercial production at Boddington in November 2009 and higher capitalized mine development in Nevada. Amortization increased in the first half of 2010 compared to the first half of 2009, as detailed in the table below. The increase in Amortization is due to the commencement of commercial production at Boddington and higher capitalized mine development in Nevada. We expect 2010 Amortization to be approximately $970 to $1,000.
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