Shares of gold mining company Newmont Corporation (NEM) are down more than 10% Monday morning after reporting lower earnings in the second quarter. The company also reduced its full-year production outlook.
Net income from continuing operations was $379 million or $0.48 per diluted share, a decrease of $261 million from the prior year quarter, primarily due to higher costs.
Excluding one-time items, earnings were $362 million or $0.46 per share.
Revenue remained flat at $3.1 billion compared to the prior year quarter.
Looking forward, the company has cut its gold production outlook to 5.9 Moz from 6.1 Moz provided earlier.
NEM, currently at $46.12, touched a new low of $45.91 this morning.
For comments and feedback contact: editorial@rttnews.com
Business News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.