Newmont: 3Q Earnings Snapshot
GREENWOOD VILLAGE, Colo. (AP) _ Newmont Goldcorp Corporation (NEM) on Tuesday reported third-quarter net income of $2.18 billion, after reporting a loss in the same period a year earlier.
The Greenwood Village, Colorado-based company said it had profit of $2.65 per share. Earnings, adjusted for non-recurring gains, came to 36 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The gold and copper miner posted revenue of $2.71 billion in the period.
Newmont shares have risen 12% since the beginning of the year, while the Standard & Poor’s 500 index has increased 23%. The stock has climbed 20% in the last 12 months.