Gold Mining ETFs Shine on Newmont's Huge Q1 Earnings Beat [Yahoo! Finance]
Newmont Corporation (NEM)
Last newmont corporation earnings: 2/20 06:55 am
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US:NYSE Investor Relations:
newmont.com/investor-relations/default.aspx
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Source: Yahoo! Finance
estimates by a huge margin of 57.1%. Its adjusted earnings of 55 cents per share topped the Zacks Consensus Estimate of 35 cents and compared with 40 cents in the prior-year quarter. This huge beat came across as a sweet surprise for investors as the company failed to meet analysts' expectations in the past three quarters. NEM's revenues for the first quarter came in at $4.02 billion, up 50.2% year over year. The figure topped the Zacks Consensus Estimate of $3.40 billion. The increase in the top line was primarily due to higher year-over-year production and realized gold prices. Meanwhile, a decline in contractor and energy costs led to Newmont's earnings growth, per Reuters. The developments put Newmont-heavy gold mining ETFs, including iShares MSCI Global Gold Miners ETF RING, VanEck Gold Miners ETF GDX and Sprott Gold Miners ETF SGDM, in a sweet spot. The ETF RING gained 4.4% on Apr 25, while GDX and SGDM added 3.7% each. Plans for Cash Generation & Cost Savings The comp
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News
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- 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
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