Breaking News
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Newmont (NEM) Pays Balance On Term Loan Due 2019

By Zacks Investment ResearchStock MarketsAug 22, 2016 06:07AM ET
Newmont (NEM) Pays Balance On Term Loan Due 2019
By Zacks Investment Research   |  Aug 22, 2016 06:07AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items

Newmont Mining Corporation (NYSE:NEM) said that it has paid off the remaining $275 million balance under its Term Loan due in 2019. The premature repayment of the term loan results in lower overall corporate debt position and reduced cash interest expense.

The repayment of the term loan signifies the company’s strategy to improve the business, reinforce the portfolio and create shareholder value. The company continues to increase its financial flexibility and improving its balance sheet position while progressing two new mines and three expansion projects on course – all on time, and either at or below budget.

Newmont has strong liquidity with about $6 billion in cash, revolver capacity and marketable securities on its balance sheet. The company will continue to assess and optimize the best use of free cash flow which will incorporate investing in profitable projects, repaying debt and returning capital to shareholders.

Newmont’s shares closed around 0.6% lower at $44.17 on Aug 19.
Newmont reported second-quarter 2016 adjusted earnings of 44 cents per share, a 69.2% surge from 26 cents earned in the year-ago quarter. Earnings also surpassed the Zacks Consensus Estimate of 28 cents.

On a reported basis, the company posted net income from continuing operations of $50 million or 9 cents per share, a roughly 20.1% decline from net earnings of $63 million or 13 cents per share recorded a year ago. The primary adjustment to net income was a $174 million tax adjustment related to prior period earnings.

Newmont's revenues of $2,038 million went up 6.8% from $1,908 million in the year-ago quarter as higher gold volumes and pricing more than offset lower copper volumes and pricing. Revenues also topped the Zacks Consensus Estimate of $1,863 million.

Newmont currently carries a Zacks Rank #3 (Hold).

Better-ranked companies in the gold mining space include New Gold, Inc. (TO:NGD) , B2Gold Corp. (NYSE:BTG) and AngloGold Ashanti Ltd. (NYSE:AU) , all sporting a Zacks Rank #1 (Strong Buy).

NEWMONT MINING (NEM): Free Stock Analysis Report

ANGLOGOLD LTD (AU): Free Stock Analysis Report

NEW GOLD INC (NGD): Free Stock Analysis Report

B2GOLD CORP (BTG): Free Stock Analysis Report

Original post

Zacks Investment Research
Newmont (NEM) Pays Balance On Term Loan Due 2019

Related Articles

Newmont (NEM) Pays Balance On Term Loan Due 2019

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email