Gold Miner Newmont Shares Crumble 12% After Earnings Miss on Weaker Bullion Prices

Gold and copper producer Newport Goldcorp announced weaker than expected second quarter earnings Monday sending their stock sharply lower. By lunchtime NEM was trading at 45.26-6.13 ( -11.94%) a more than two-year low. The companies’ shares have tumbled 40% over the past three months. Profit was down almost 41% from a year ago, reflecting a drop in gold prices and cost of sales jumped 33% while sales fell. Newmont: Boddington Australia Newmont Q2 2022 Earnings Newmont second-quarter profit fell well … Continue reading “Gold Miner Newmont Shares Crumble 12% After Earnings Miss on Weaker Bullion Prices”

Newmont Mining Swings to Profit on Steady Gold and Copper Production

Gold and copper producer Newport Mining reported better than expected fourth quarter earnings Thursday with steady gold and copper production and lower operational costs. NEM agreed to acquire Goldcorp (GG) for $10 billion in an all-stock deal last month.