Newmont Profit Beats Estimates After Gold Climbs to Record
This article is for subscribers only.
Newmont Mining Corp., the largest U.S. gold producer, posted first-quarter profit that beat analysts’ estimates after the metal’s price rose to a record.
Net income dropped to $514 million, or $1.03 a share, from $546 million, or $1.11, a year earlier, the Greenwood Village, Colorado-based company said today in a statement. Earnings excluding some items were $1.04 a share, exceeding the $1 average estimate from 13 analysts surveyed by Bloomberg. Sales rose 9.9 percent to $2.47 billion.