Newmont beats quarterly profit estimates on higher gold prices
Newmont beat third-quarter profit estimates as elevated gold prices lifted earnings, posting adjusted profit of $2.20 a share against a $2.05 average estimate, with revenue up 15% to $6.36 billion. Gold averaged $4,204.59 an ounce in the quarter, up about 17.6% from a year earlier, while gold production fell to 1.30 million ounces from 1.42 million.