Newmont Mining (NYSE:NEM) Fourth-Quarter Earnings

Newmont Mining (NYSE:NEM) Fourth-Quarter Earnings

Newmont Mining (NYSE:NEM) enjoyed a super fourth quarter as far as earnings go, performing far beyond expectations, as prices shot up for copper and gold, while the management reined in costs to generate the great numbers.

Earnings for the fourth quarter reached $558 million or $1.13 a share, an increase of $4 million from a year ago.

Overall sales of gold grew by 55 percent while copper sales were over ten times what they were from the year before, rising from $47 million to an extraordinary $533 million.

Reserves for both metals increased as well for the year, with copper reserves increasing 17 percent and gold reserves increasing by 8 percent.

It's great to see the second-largest gold mining company behind Barrick Gold (NYSE:ABX) not only flourish because of market demand, but also because they took steps to cut back on costs at the time good management does: when things are going great. Good job overall for Newmont and good discipline.

Newmont Mining (NYSE:NEM) Fourth-Quarter Earnings