Gold mining giant Newmont Mining Corporation (NEM – Free Report) logged net loss from continuing operations of $534 million or 99 cents per share in fourth-quarter 2017, wider than net loss of $391 million or 73 cents recorded a year ago.

Barring one-time items, adjusted earnings were 40 cents per share for the quarter, which came in line with the Zacks Consensus Estimate.

Newmont reported revenues of $1,935 million, up around 8.2% year over year. The figure missed the Zacks Consensus Estimate of $1,957.6 million.

Full-Year 2017 Results

For 2017, Newmont reported adjusted net income of $780 million or $1.46 per share compared with $619 million or $1.16 per share in 2016.

Revenues jumped roughly 9.5% year over year to $7,348 million.

Newmont Mining Corporation Price, Consensus and EPS Surprise

Newmont Mining Corporation Price, Consensus and EPS Surprise | Newmont Mining Corporation Quote

Operational Highlights

Newmont’s attributable gold production increased roughly 1% year over year to 1.34 million ounces in the quarter.

Average net realized gold price increased 6% to $1,270 per ounce from $1,193 an ounce a year ago. The average net realized copper price jumped 29% to $3.20 per pound from $2.49.

Newmont’s costs applicable to sales (CAS) for gold was $693 per ounce in the quarter, up roughly 2% from year-ago quarter figure of $681. Copper CAS was $1.62 per pound, down 14% year over year.

All-in sustaining costs (AISC) for gold rose roughly 5% year over year to $968 per ounce.

Regional Performance

North America

Attributable gold production in North America in the fourth quarter was 556,000 ounces, rising 1% year over year. Consolidated copper production was at 3000 tons, down 25% from 4,000 tons recorded in the year-ago quarter.

Gold CAS for the region was $720 per ounce compared with $721 in the year-ago quarter. Copper CAS was $1.84 per pound, declining 25% year over year.