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
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.