据分析师估计，第三季的“意外之财”使纽蒙特今年的总利润有望达到32亿美元，Due to the surge in gold prices, the world's largest gold producer, Newmont, announced its best quarterly performance in five years; Newmont's performance report released on Wednesday showed a net income attributable to shareholders of 0.922 billion USD in the third quarter, nearly six times higher than the same period last year.
Finance Associated Press News on October 24th (Editor: Bian Chun) Due to the surge in gold prices, the world's largest gold producer, Newmont Corp., announced its largest quarterly profit in five years.
Newmont's performance report released on Wednesday showed a net income attributable to shareholders of 0.922 billion USD in the third quarter, nearly six times higher than the same period last year.
According to analysts' estimates, the 'unexpected windfall' in the third quarter is expected to bring Newmont's total profit for the year to 3.2 billion USD, making it the company's most profitable year on record.
Nevertheless, Newmont's stock price still plummeted nearly 7% in after-hours trading on Wednesday due to earnings per share falling short of analysts' expectations. The company reported an adjusted earnings per share of 81 cents in the third quarter, while analysts had expected 86 cents per share.
Since the beginning of the year, Newmont Mining's stock price has risen by over 40%, significantly outperforming the S&P 500 index's 22% increase during the same period.
Last year, Newmont spent approximately 15 billion USD to acquire Newcrest Mining Ltd., adding a range of gold and copper mines to its asset portfolio, further solidifying its position as the world's largest gold producer.
This quarter, Newmont produced 1.67 million ounces of gold, far exceeding its largest competitor Barrick Gold Corporation's 0.943 million ounces.
Newmont is the first major gold producer to announce its performance in this financial reporting season. It is expected that other gold miners will successively announce substantial profits in the following period. Due to the continuous rise in the price of gold and the decrease in the cost of extracting gold, these companies are profiting from it.
Due to factors such as the Federal Reserve shifting to an interest rate cut cycle, tense geopolitical situations, and uncertainty surrounding the U.S. presidential election, the international gold price has repeatedly hit new highs this year. On Wednesday, spot gold once reached a historical high of $2758.25. Many Wall Street analysts predict that the price of gold is likely to break through the $3000 mark.
