Spiking gold prices helped
more than triple its fourth-quarter earnings.
The Denver company earned $75.1 million, or 19 cents a share, in the fourth quarter, up from $18.4 million, or 10 cents a share, last year. Analysts had been forecasting 18 cents. Revenue rose to $815.1 million from $454.7 million. The latest quarter included a $25.4 million noncash derivatives loss.
Newmont said it produced 7.6 million ounces of gold in the fourth quarter at a cost of $189 an ounce. It expects 2003 gold output of between 7 million ounces and 7.2 million ounces.
The shares closed at $24.56 Thursday.