Boston, MA 08/14/2013 (wallstreetpr) - Newmont Mining Corp (NYSE:NEM)’s novel management group during an investor day call summed up approach to lessen costs and strengthen existing operations. The firm gave perceptivity to its shareholders on its long-term approach. The firm, which also proposes to diminish costs and strengthen present operations, should utilize the present purchasers’ market to stock up on innovative discovery resources.
In a message, John Bridges, market expert at JP Morgan stated, “Long-standing miners purchase low with aim that they can mine larger.”
Newmont Mining Corp, a well-known gold producer, posted a shocking 2nd quarterly period loss after a sharp decline in gold rates and a destruction charge associated to its two Australia-based mines.
Newmont Mining Corp (NYSE:NEM) Proposes to Trim Down Staff by 1/3rd
The company registered loss during the second quarterly period. Gold rates have declined speedily over the past several months. Newmont Mining Corp (NYSE:NEM) has recorded a hefty loss of $2 billion in the second quarter. This is mainly because of the decreases in the gold rates and the impairment charges in relation with 2 of the firm’s Australian mines.
Newmont Mining Corp plans to lessen the workforce by 1/3rd. For the last 3 month period that ended on June 30, the company has confronted a loss of around $4.06 for each share as against 2012’s net income of $279 million. The company’s revenue dropped down by around 11 per cent as against $2.23 billion to $1.99 billion as compared to the value of $2.08 billion that was Wall Street’s approximation.
Newmont Mining Corporation (NYSE: NEM) Announces Quarterly Dividend of $0.25 per Share
Newmont Mining Corporation (NYSE: NEM) (“Newmont” or the “Company”) has declared that its Board of Directors announced a quarterly dividend of $0.25 per share of common stock. The dividend will be paid on September 27, 2013 to the stockholders.