Inside Newmont Mining’s Upcoming Quarterly Earnings Release

S&P 500 (NYSE:SPY) component Newmont Mining Corporation (Holding Company) (NYSE:NEM) will unveil its latest earnings on Friday, July 29, 2011. Newmont Mining Corp. explores and acquires gold properties and produces copper.

Newmont Mining Corporation (Holding Company) Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 98 cents per share, a rise of 28.9% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.01. Between one and three months ago, the average estimate moved down and dropped from 99 cents during the last month. For the year, analysts are projecting net income of $4.15 per share, a rise of 9.8% from last year.

Past Earnings Performance: The company’s quarterly results have come in above estimates for the last three quarters. Last quarter, the company booked profit of $1.03 per share versus a mean estimate of net income of 96 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $2.49 billion in revenue this quarter, a rise of 15.8% from the year ago quarter. Analysts are forecasting total revenue of $10.13 billion for the year, a rise of 6.2% from last year’s revenue of $9.54 billion.

Analyst Ratings: Analysts are bullish on Newmont Mining Corporation (Holding Company as nine analysts rate it as a buy, two rate it as a sell and seven rate it as a hold.

Key Stats:

The decrease in profit in the first quarter breaks a streak of three consecutive quarters of year-over-year profit increases. Net income fell 5.9% in the first quarter from the year earlier, while the figure rose 45.5% in the fourth quarter of the last fiscal year, 38.4% in the third quarter of the last fiscal year and more than twofold in the second quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased 9.9% to $2.46 billion in first quarter. The figure rose 1.2% in the fourth quarter of the last fiscal year from the year earlier, climbed 26.7% in the third quarter of the last fiscal year from the year-ago quarter and 34.4% in the second quarter of the last fiscal year.

Competitors to Watch: Barrick Gold Corp. (NYSE:ABX), Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), Royal Gold, Inc. (NASDAQ:RGLD), Newmont Mining Corp. of Canada Ltd (NMC), Vista Gold Corp. (AMEX:VGZ), Goldcorp Inc. (NYSE:GG), AngloGold Ashanti Ltd. (NYSE:AU), Alto Group Holdings Inc. (ALTO), and Kinross Gold Corp. (NYSE:KGC).

Stock Price Performance: During June 24, 2011 to July 25, 2011, the stock price had risen $6.14 (11.7%) from $52.27 to $58.41. The stock price saw one of its best stretches over the last year between May 13, 2011 and May 31, 2011 when shares rose for 12-straight days, rising 7.2% (+$3.77) over that span. It saw one of its worst periods between May 31, 2011 and June 8, 2011 when shares fell for seven-straight days, falling 7.5% (-$4.21) over that span. Shares are down $2.61 (-4.3%) year to date.

(Source: Xignite Financials)

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