GO
Loading...

Call To The Floor – Newmont Mining

Tuesday, 2 Nov 2010 | 5:37 PM ET

In Tuesday’s 'Call to the Floor', the Fast traders talk with the biggest gold producer in the country -- Newmont Mining.

On Tuesday the miner beat Wall Street estimates with a 38% rise in profits but also generated some conern when it raised cost estimates citing a slew of factors including higher waste mining and royalty costs, a stronger Australian dollar, and lower production in South America.

By the numbers Newmont said third-quarter net profit rose to $537 million, or $1.09 per share, from $388 million, or 79 cents per share, a year earlier. Sales increased to $2.6 billion from $2.0 billion. Analysts on average were expecting earnings of 95 cents per share on revenue of $2.37 billion, according to Thomson Reuters I/B/E/S.

How should you game this stock, now?

Don’t make a move until you check out our conversation with CEO Richard O’Brien.

Watch the video now!

Newmont Mining CEO on Earnings
Richard O'Brien, CEO of gold producer Newmont Mining, discusses his company's earnings and outlook with the "Fast Money" traders.




______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to fastmoney@cnbc.com.

Trader disclosure: On November 2nd, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova owns (APA), (AAPL), (AXP), (C), (GOOG), (GS), (FCX), (IBM), (NOV), (ORCL), (PCP), (PEP), (PFE), (UPL), (VRTS), (XBI); Finerman owns (AAPL); Finerman & Finerman’s Firm owns (BAC); Finerman & Finerman’s Firm owns (JPM); Finerman’s Firm owns (MSFT); Finerman’s Firm owns (WMT); Finerman's firm is short (IJR); Finerman's firm is short (MDY); Finerman's firm is short (SPY); Finerman's firm is short (IWM); Finerman’s firm owns S&P 500 puts; Finerman’s firm owns Russell 2000 puts; Cortes is short (AAPL); Cortes owns (GOOG); Cortes is short (RSX); Cortes is long S&P 500; Cortes owns (K); Cortes owns (TSN); Cortes owns (CLX); Cortes is short crude oil; Cortes is short gold; Cortes owns U.S. Treasuries; Clifton owns (BA), (CNX), (FDX), (LLY), (LO), (MA), (MCO), (MO), (NSC), (PPA), (RHI), (SO), (TE), (X), (MUB)

For Brian Kelly
Accounts managed by Kanundrum Capital own (GLD)
Accounts managed by Kanundrum Capital own (GDXJ)
Accounts managed by Kanundrum Capital own (SLV)
Accounts managed by Kanundrum Capital own (SWC)
Accounts managed by Kanundrum Capital own (PPLT)
Accounts managed by Kanundrum Capital own (TLT)
Accounts managed by Kanundrum Capital own (TIP)
Accounts managed by Kanundrum Capital own (ANDE)
Accounts managed by Kanundrum Capital own (GPRE)
Accounts managed by Kanundrum Capital own (GS)
Accounts managed by Kanundrum Capital own (HD)
Accounts managed by Kanundrum Capital own (JPM)
Accounts managed by Kanundrum Capital own (XHB)
Accounts managed by Kanundrum Capital own Euros
Accounts managed by Kanundrum Capital are short Japanese Yen

For Joe Terranova
Terranova is chief market strategist of Virtus Investment Partners, LTD.
Virtus Investment Partners own more than 1% of (ABAX)
Virtus Investment Partners own more than 1% of (ALK)
Virtus Investment Partners own more than 1% of (AMKR)
Virtus Investment Partners own more than 1% of (CASS)
Virtus Investment Partners own more than 1% of (CMS)
Virtus Investment Partners own more than 1% of (CSC)
Virtus Investment Partners own more than 1% of (CSVI)
Virtus Investment Partners own more than 1% of (FCFS)
Virtus Investment Partners own more than 1% of (IGE)
Virtus Investment Partners own more than 1% of (LDR)
Virtus Investment Partners own more than 1% of (LPHI)
Virtus Investment Partners own more than 1% of (MGRC)
Virtus Investment Partners own more than 1% of (NRCI)
Virtus Investment Partners own more than 1% of (DBV)
Virtus Investment Partners own more than 1% of (XLB)
Virtus Investment Partners own more than 1% of (XLP)
Virtus Investment Partners own more than 1% of (XLY)
Virtus Investment Partners own more than 1% of (XLF)
Virtus Investment Partners own more than 1% of (XLI)
Virtus Investment Partners own more than 1% of (XLU)
Virtus Investment Partners own more than 1% of (SOA)
Virtus Investment Partners own more than 1% of (SUBK)
Virtus Investment Partners own more than 1% of (WDFC)
Virtus Investment Partners own more than 1% of (WMB)
Virtus Investment Partners own more than 1% of (YDNT)
Virtus Investment Partners own more than 1% of (DRYS)

For Dan Niles
Niles and Alpha One Capital hold positions in (AAPL)
Niles and Alpha One Capital hold positions in (WD)
Niles and Alpha One Capital hold positions in (BRCD)
Niles and Alpha One Capital hold positions in (STX)
Niles and Alpha One Capital hold positions in (X)
Niles and Alpha One Capital hold positions in (AA)

For Ed Groshans
In the normal course of its business, Height Analytics and its broker dealer affiliate, Height Securities, may seek to perform investment banking and other services for companies, and receive compensation in connection with such services. As such, investors should assume that Height intends to seek investment banking and other business relationships with any and all companies mentioned in today’s appearance.

For Dan Greenhaus
***No Disclosures***

For Scott Nations
Nations is long (SPY)

CNBC.com with wires.

  Price   Change %Change
NEM
---

Featured

Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET
  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

  • Scott Wapner is host of the "Fast Money Halftime Report," which airs weekdays from 12 p.m. to 1 p.m. ET.

  • Guy Adami is a contributor on CNBC's "Fast Money." He also is managing director of stockMONSTER.com.

  • Najarian, the "Pit Boss," is cofounder of optionMONSTER.com, a news site for options traders.

  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

Halftime Report