When Newmont Mining reports its first quarter results on Tuesday, July 29, 2014, analysts are expecting to see the company back in the black. They are expecting profit of 20 cents a share after the company took a loss of 10 cents per share a year ago.
The consensus estimate has risen from 17 cents over the past three months. Analysts are projecting earnings of 77 cents per share for the fiscal year. After being $2.18 billion a year ago, analysts project revenue to drop 17% year-over-year to $1.80 billion for the quarter. For the year, revenue is projected to come in at $7.27 billion.
Over the last four quarters, revenue has fallen an average of 12% year-over-year. The biggest drop came in the third quarter, when revenue fell 20% from the year-earlier quarter.
Newmont Mining explores and acquires gold properties and produces copper. Barrick Gold, also in the gold and silver industry, will report earnings on Wednesday, July 30, 2014. Analysts are expecting earnings of $0.16 per share for Barrick Gold. Other companies in the gold and silver industry with upcoming earnings release dates include: Kinross Gold, Goldcorp and Vista Gold.
Earnings estimates provided by Zacks.
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