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Los Angeles, CA -- (SBWIRE) -- 02/06/2014 -- Hotpennystocknews.com issues special report on - Diamond Offshore's (DO), Newmont Mining Corporation (NYSE:NEM)
Diamond Offshore's (DO) a leader in offshore drilling, providing contract drilling services to the energy industry around the globe with a total fleet of 45 offshore drilling rigs, including seven rigs under construction. Diamond Offshore's fleet consists of 33 semisubmersibles, three of which are under construction, five dynamically positioned drillships, four of which are under construction, and seven jack-ups. Their mission is to exceed customer expectations and continually set the standard of excellence as we assist their customers in their worldwide efforts to discover and produce offshore petroleum resources.
DO today reported net income for the fourth quarter of 2013 of $93 million, or $0.67 per share. Results for the fourth quarter were negatively impacted by $0.41 per share to reserve for an uncertain tax position related to Egyptian operations. Partially offsetting this reserve was revenue recognized in connection with a settlement agreement with a customer, resulting in a gain of$0.12 per share, after tax.
In the fourth quarter of 2012, Diamond Offshore reported net income of $156 million, or $1.12 per share, which included an after-tax impairment charge of $40.6 million, or $0.29 per share, related to the reclassification of four cold-stacked rigs as held for sale. Revenues in the fourth quarter of 2013 were $726 million, compared with revenues of $751 million in the prior year quarter.
For the full year 2013, the Company reported net income of $549 million, or $3.95 per share, compared with net income of $720 million, or $5.18 per share, in 2012. Revenues for the full year 2013 were $2.920 billion, compared with $2.987 billion in 2012.
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Newmont Mining Corporation (NYSE:NEM) is primarily a gold producer, with significant assets or operations in the United States, Australia, Peru, Indonesia, Ghana, New Zealand and Mexico. Founded in 1921 and publicly traded since 1925, Newmont is one of the world’s largest gold producers and is the only gold company included in the S&P 500 Index and Fortune 500. Headquartered near Denver, Colorado, the company has around 40,000 employees and contractors worldwide.
In 2007, Newmont became the first gold company selected to be part of the Dow Jones Sustainability World Index.Newmont’s industry leading performance is reflected through high standards in environmental management, health and safety for its employees and by creating value and opportunity for host communities and shareholders.
NEM traded down 0.94% during mid-day trading on Monday, hitting $20.98. The stock had a trading volume of 7,609,665 shares. Newmont Mining Corp. has a 52 week low of $20.90 and a 52 week high of $45.82. The stock has a 50-day moving average of $23.5 and a 200-day moving average of $26.96. The company’s market cap is $10.445 billion.
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