Miner Newmont warns inflation to spike costs in 2023
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Newmont (NEM) Stock Slides Following Earnings, Analyst Says it was a 'Meaningful Miss'
July 25, 2022 3:18 PM EDTNewmont (NYSE: NEM) reported second-quarter earnings before the bell Monday, posting a profit of $0.46 per share, $0.22 worse than the analyst estimate of $0.68. Revenue for the quarter came in at $3.06 billion versus the consensus estimate of $3.15 billion.
Newmont shares have plunged over 13% following the report. Meanwhile, analysts at UBS, RBC Capital, KeyBanc, and Credit Suisse all released research notes reacting to the release:
UBS analyst Cleve Rueckert, who has a Neutral rating and $78 per share price target on Newmont, said "revenues of $3.06b were slightly above consensus' $3.05b. Adj.... More
Newmont (NEM) Trades at Low, Down 8%
July 25, 2022 9:59 AM EDTNewmont (NYSE: NEM) Trades at Low, Down 8%
... More