Newmont Mining Reports Mixed Results As Production Slips (NEM)

April 28, 2012

4-27-12-Newmont Mining (NYSE:NEM) reported Q1 adjusted EPS of $1.15, beating estimates by $0.02.Revenues in the quarter came in at $2.68 billion, missing estimates of $2.70 billion.The company reported Q1 gold production of 1.3 million ounces, down 2% year-over-year.Meanwhile, Newmont said its Q1 copper production fell 35% year-over-year to 35 million lbs.Newmont reiterated its 2012 views for gold, copper production as well as Capex.SmarTrend alerted subscribers to take profits in Newmont Mining on February 29, 2012 at $60.73, since then the stock fell 21.4%. We are now watching for any positive developments that could result in a new uptrend signal.