Reported 1 day ago
Newmont, the leading gold miner, surpassed Q2 profit expectations due to a rise in gold prices, resulting in a 4% increase in its shares. Gold prices averaged $3,220.58 per ounce, nearly 40% higher than the previous year, although production fell by 8% to 1.48 million ounces as the company divested non-core assets to manage debt. The miner announced a $3 billion share buyback program and reported adjusted earnings of $1.43 per share, exceeding analyst expectations.
Source: YAHOO