Silver to $39.50: Up 9.4% Past 30 Days
Newmont Mining — the world’s largest gold producer — posted adjusted Q2 earnings of $1.43 per share—beating the $1.18 consensus—as soaring gold prices offset an 8% drop in production to 1.48 million ounces.
With bullion averaging $3,220/oz (up 12% QoQ and 40% YoY) and realized prices near $3,320/oz, higher revenues more than covered a small rise in all-in-sustaining costs to $1,593/oz.
The miner has also trimmed debt by selling non-core assets, and is managing an incident where three workers remain trapped underground at one of its Canadian sites.ada to pay down debt after its blockbuster Newcrest acquisition.
