Reported about 1 month ago
Newmont Corp. faced its largest share drop in over two years, falling 9.1% after reporting third-quarter earnings that missed analysts' expectations amid rising mining costs. Despite being the first major gold producer to release earnings during a lucrative season for the sector, Newmont's higher expenses, particularly from its recent acquisition and operational issues, overshadowed its record net income of $922 million. Analysts believe expectations were overly optimistic, but the overall industry impact may not be as severe.
Source: YAHOO