Newmont Shares Fall as Earnings Miss Undermines Profit Surge

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Newmont Corp., the world’s top gold producer, posted its biggest quarterly profit in five years as the price of bullion surged. Still, shares fell after sales and earnings missed analysts’ estimates.

David Aspell, Co-CIO at Mt. Lucas Management LP., talks with us about gold's all-time high rally despite economic risks.

The stock plunged as much as 7.2% to a low of $53.60 in New York after the world’s top gold producer reported third-quarter results that missed analysts’ expectations for revenue and adjusted earnings. The miss came even as Newmont posted its largest quarterly profit in five years.

 

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