This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Newmont Announces Third Quarter 2013 Results

Stocks in this article: NEM

As previously announced, Newmont has maintained its 2013 attributable gold production outlook of 4.8 to 5.1 million ounces and has revised its attributable copper production outlook to 135 to 145 million pounds. Newmont now expects to be at the low end of its previously announced 2013 outlook for gold CAS of $750 and $825 per ounce inclusive of stockpile write-downs. The Company continues to expect copper CAS of $4.05 and $4.40 per pound, respectively, inclusive of stockpile write-downs. Exclusive of stockpile write-downs, the Company continues to expect gold and copper CAS between $675 and $750 per ounce and $2.25 and $2.50 per pound, respectively.

2013 consolidated capital expenditure outlook has been reduced by $200 million to $2.0 to $2.2 billion or to $1.7 to $1.9 billion on an attributable basis. Consolidated sustaining capital outlook has been reduced by $100 million to $1.2 to $1.3 billion, or to $1.0 to $1.1 billion on an attributable basis.

As previously announced, Newmont’s Board of Directors approved a fourth quarter dividend in accordance with the Company’s gold price-linked dividend policy of $0.20 per share based upon the average London P.M. Fix of $1,326 per ounce for the third quarter.


North America

North America AISC for the third quarter were $772 per ounce, down 24% over the prior year quarter. AISC were favorably impacted by a 16% reduction in gold CAS per ounce, attributable to lower royalties, higher by-product credits, and higher production, and a 38% reduction of sustaining capital expenditures per ounce.

Nevada – Attributable gold production in Nevada was 468,000 ounces at CAS of $527 per ounce during the third quarter. Gold production increased 2% from the prior year quarter due to higher leach production from Emigrant and Carlin North Area as well as higher grade and throughput at Juniper Mill and Phoenix, partially offset by lower grade and recovery at Mill 5 and lower throughput and recovery at Mill 6 and the Twin Creeks Autoclave. CAS per ounce decreased 20% from the prior year quarter due to higher ounces produced, higher by-product credits, and lower royalties. AISC at Nevada were $722 per ounce, down 29% over the prior year quarter.

The Company is maintaining its 2013 attributable gold production outlook of between 1.7 and 1.8 million ounces at CAS of $600 to $650 per ounce.

2 of 11

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs