Newmont beats quarterly profit estimates on higher gold production

Reuters | July 24, 2024 | 1:14 pm Top Companies USA Gold

Newmont starts ramp-up at Peñasquito as strike ends

Newmont’s Peñasquito mine in Mexico. (Image: Former Goldcorp via Flickr.)

Newmont Corp beat Wall Street expectations for second-quarter profit on Wednesday, as the world’s biggest gold miner benefited from robust production and easing costs.

On an adjusted basis, the Denver, Colorado-based company posted a profit of 72 cents per share for the April-June quarter, compared with analysts’ estimates of 62 cents, according to LSEG data.

(By Vallari Srivastava; Editing by Sriraj Kalluvila)