Newmont Mining Corp (NEM.NYS) Thursday announced a more than threefold jump in its fourth-quarter net income.
The company said its net profits in the three months surged to $223 million, or 49¢ per share, from $62 million, or 14¢ per share, in the year-ago quarter. Revenues rose to $1.46 billion in the fourth quarter, from $1.29 billion in the same period a year earlier, Newmont Mining added. Although the company’s gold sales declined in the latest quarter to two million ounces, from four million ounces a year earlier, the average realized selling price climbed to $619 an ounce, from $472 an ounce in the previous year. The average cost of sales per ounce rose as well to $322, from $232 in the fourth quarter of 2005, Newmont Mining said.
source news : newratings.com
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