Gold miner Newmont tops profit estimates; asset sale attracts strong interest [Yahoo! Finance]
Newmont Corporation (NEM)
Last newmont corporation earnings: 2/20 06:55 am
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Source: Yahoo! Finance
Shares rose 11.2% to a nine-month high of $43.07 as the company also disclosed strong interest in its asset sale plans. Quarterly attributable gold production rose to 1.7 million ounces from 1.3 million ounces a year earlier. The company has disclosed plans to divest non-core assets and trim its workforce to reduce debt as it completed the about $17 billion purchase of Australian miner Newcrest in November. "We have started the formal process on each of the six non-core assets, there's a high level of interest across those processes," Newmont CEO Tom Palmer said in a post-earnings call. National Bank of Canada Financial Markets analysts said, "Given the strong gold price environment, we believe that future asset sales may prove well timed with respect to maximizing value received for these assets." Spot prices of the precious metal rose about 8.2% in the January-March quarter, helping the miner realize higher prices at $2,090 per ounce from $1,906 a year earlier. [GOL/] S
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NEM
News
- Newmont Co. (NYSE: NEM) had its price target lowered by analysts at BMO Capital Markets from $56.00 to $54.00. They now have an "outperform" rating on the stock.MarketBeat
- Newmont Co. (NYSE: NEM) was downgraded by analysts at National Bank Financial from an "outperform overweight" rating to a "sector perform overweight" rating.MarketBeat
- Newmont Corporation (NEM) is a Top-Ranked Momentum Stock: Should You Buy? [Yahoo! Finance]Yahoo! Finance
- Why gold ETFs are an option to bonds as inflation lingers [Yahoo! Finance]Yahoo! Finance
- Barrick Gold beats estimates for quarterly profit, enters JV in Jamaica [Yahoo! Finance Canada]Yahoo! Finance Canada
NEM
Earnings
- 4/25/24 - Beat
NEM
Sec Filings
- 5/2/24 - Form 4
- 4/30/24 - Form 4
- 4/30/24 - Form 4
- NEM's page on the SEC website