World's Largest Gold Miner Newmont Reports Q2 Results Above Estimates: Details

Newmont Corp. (NYSE:NEM) released its second-quarter results after Thursday's closing bell. Here's a look at the key figures from the quarter. 

Check out the current price of NEM stock here.

The Details: Newmont reported quarterly earnings of $1.43 per share, which beat the analyst estimate of $1.12. Quarterly revenue came in at $5.31 billion, which beat the analyst consensus estimate of $4.93 billion and is up from $4.4 billion in the prior year’s quarter.

Read Next:  Quantum Stock Tracker: Rigetti Achieves Major Breakthrough, But Jim Cramer Names Another Stock To ‘Own’

Attributable gold production decreased 4% to 1,478,000 ounces from the prior quarter as expected.

Average realized gold price was $3,320 per ounce, an increase of $376 per ounce over the prior quarter.

Average realized gold price includes $3,301 per ounce of gross price received, a favorable impact of $25 per ounce mark-to-market on provisionally priced sales and reductions of $6 per ounce for treatment and refining charges.

“Newmont delivered a strong second quarter, producing approximately 1.5 million attributable gold ounces and generating an all-time record quarterly free cash flow of $1.7 billion, underscoring the strength of our world-class portfolio and the disciplined execution of the commitments we shared at the beginning of the year,” said Tom Palmer, Newmont’s CEO.

NEM Price Action: According to data from Benzinga Pro, Newmont stock was up 2.50% at $63.05 in Thursday's extended trading. 

Read Next: 

• Space Stock Tracker: Virgin Galactic Makes A Comeback While Rocket Lab Takes A Breather

Photo: Shutterstock