Newmont Corporation reported a mixed financial performance, with net income decreasing to $432 million and adjusted earnings per share of 69 cents, below analyst estimates. Despite a resilient price increase for gold, the company encountered lower attributable gold production and higher operating costs, leading to a substantial drop in shares of up to 8.4%. Analysts have raised price targets, but ongoing production issues and recent COVID-related expenses raise concerns about future profitability.
“Newmont Mining · has yearly gold production · over 6.5 million ounces”
“Newmont Mining · gold production · yearly · over 6.5 million ounces”
“Newmont Mining · price target raised · by Jefferies, UBS, Raymond James · $72, $78, $82”
“Newmont Mining · net sales are projected to advance · 2022 · 6.7%”
“Newmont Mining · bottom line should soar · 2022 · 119.9%”
“Newmont Mining · profit margin boost to · 2022 · 19.7%”
“Newmont Mining · trades at forward EV/EBITDA · 2022 · 10.3x”
“Newmont Mining · projected dividend yield · 2022 · 2.66%”
“Newmont Corporation · reported net income from continuing operations of · 54 cents per share · $432 million”
“Newmont Corporation · reported revenues of · $3,023 million · 5.3%”
“Newmont Corporation · attributable gold production in the first quarter declined · 1.34 million ounces · 8%”
“Newmont Corporation · average realized prices of gold rose · $1,892 per ounce · 8.1%”