Newmont 3Q Profit, Sales Fall on Lower Gold Production
October 28 2021 - 7:48AM
Dow Jones News
By Dave Sebastian
Newmont Corp. said its profit and sales fell for the third
quarter as its attributable gold production decreased.
The gold miner on Thursday posted net income attributable to
shareholders of $3 million, compared with $839 million in the prior
year. Earnings per share were flat, compared with $1.04 in the
year-ago period.
Adjusted earnings were 60 cents a share. Analysts polled by
FactSet were expecting 76 cents a share.
Sales fell to $2.9 billion from $3.17 billion. Analysts were
looking for $3.14 billion.
Attributable gold production fell 6% to 1.45 million ounces from
the prior-year quarter due to lower throughput at Nevada Gold Mines
as a result of a mechanical failure in May. That led to a partial
shutdown of its Goldstrike mill until it was fully repaired in
September. It also saw lower leach production, mill recovery and
ore grade milled at CC&V, lower throughput, grade milled and
recovery at Boddington and lower throughput at Tanami, as the mine
was placed under maintenance in July.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
October 28, 2021 07:33 ET (11:33 GMT)
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