Research Desk Line-up: Agnico Eagle Mines Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 3, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Newmont Mining Corp. (NYSE: NEM) ("Newmont"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=NEM, following the Company's release of its second quarter fiscal 2017 (Q2 FY17) earnings on July 25, 2017. The Denver, Colorado-based Company's quarterly sales grew 12% y-o-y, while adjusted diluted EPS surged 59% y-o-y - both topping market consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Gold industry. Pro-TD has currently selected Agnico Eagle Mines Limited (NYSE: AEM) for due-diligence and potential coverage as the Company reported on July 26, 2017, its financial results for Q2 2017. Register for a free membership today, and be among the early birds that get access to our report on Agnico Eagle Mines when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on NEM; also brushing on AEM. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=NEM

http://protraderdaily.com/optin/?symbol=AEM

Earnings Reviewed

During Q2 FY17, Newmont reported sales of $1.88 billion compared to $1.67 billion in Q2 FY16. Sales numbers for Q2 FY17 outperformed market expectations of $1.79 billion. The Company attributed the increase to growth in sales volumes.

In Q2 FY17, the gold and copper mining company reported net income from continuing operations attributable to Newmont's stockholders of $192 million, or $0.36 per diluted share, versus $14 million, or $0.02 per diluted share, in the prior year's comparable quarter. The Company's adjusted income increased during Q2 FY17 to $248 million, or $0.46 per share, from $155 million, or $0.29 per share, in Q2 FY16. Additionally, Wall Street had expected the Company to report adjusted income of $0.28 per diluted share.

For the reported quarter, the Company reported earnings before interests, taxes, depreciation, and amortization (EBITDA) of $708 million compared to $588 million in the year ago same period. Furthermore, the adjusted EBITDA increased to $698 million during Q2 FY17 from $600 million in Q2 FY16.

Production Numbers

The Company's Gold production volume was 1.35 million ounces in Q2 FY17, up 13% from 1.19 million ounces in the previous year's corresponding quarter. The gold sales volume grew 12% to $1.35 million ounces during Q2 FY17 from $1.21 million ounces in Q2 FY16. Furthermore, the all-in sustaining costs were $884 per ounce in Q2 FY17 versus $913 per ounce in the prior-year's comparable period.

In Q2 FY17, Copper production volume was 31 million pounds, up from 29 million pounds in last year's comparable quarter. For the reported quarter, copper sales volume increased to 32 million pounds from 29 million pounds in Q2 FY16. However, all-in sustaining costs associated with copper production were down to $1.69 per pound in Q2 FY17 from $2.17 per pound in Q2 FY16.

Cash Flow and Balance Sheet

In the three months ended June 30, 2017, net cash generated by operating activities rose to $526 million from $777 million in Q2 FY16. Additionally, free cash flow grew during the reported quarter to $346 million from $385 million in Q2 FY16.

As on June 30, 2017, cash and cash equivalents, balances stood at $3.11 billion compared to cash equivalents balance of $2.76 billion as on December 31, 2016. Furthermore, the Company's non-current debt position stood flat at $4.05 billion on June 30, 2017.

Dividends and Share Repurchases

In a separate press release on July 19, 2017, Newmont's Board of Directors declared a quarterly dividend of $0.075 per share of common stock. The dividend will be payable on September 28, 2017, to holders of record at the close of business on September 14, 2017.

Earnings Outlook

In its outlook for full year FY17, Newmont's management expects gold production in the range of 5.0 million to 5.4 million ounces. The Company anticipates cost of sales applicable to gold during FY17 to be between $675 and $715 per ounce. Additionally, the Company projects the gold all-in sustaining costs guidance range of $900 to $950 per ounce. Furthermore, the Company is targeting copper production volume in the range of 40 to 60 tonnes with copper AISC in the range of $1.85 to $2.05 per pound in FY17.

Stock Performance

On Wednesday, August 02, 2017, the stock closed the trading session at $36.87, marginally dropping 0.30% from its previous closing price of $36.98. A total volume of 3.85 million shares have exchanged hands. Newmont Mining's stock price surged 15.62% in the last one month, 12.79% in the past three months, and 2.79% in the previous six months. Furthermore, since the start of the year, shares of the Company have gained 8.22%. The stock is trading at a PE ratio of 91.04 and has a dividend yield of 0.81%. The stock currently has a market cap of $19.65 billion.

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SOURCE: Pro-Trader Daily