Newmont share price slides 7% as Q3 update disappoints
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The Newmont Corp (ASX: NEM) share price has slipped into the red from the open on Thursday after the company posted its Q3 2024 earnings update.
Shares in the gold miner are currently fetching $81.37 apiece, down 6.8% at the time of writing as investors react to the results.
Zooming out, the stock is up 33.8% this year to date, as gold extends its rally to set new highs above US$2,700 per ounce this week. Here’s a closer look.
Newmont share price down 6% on mixed Q3 results
Newmont’s Q3 2024 update delivered some positives but also revealed challenges that weighed on its share price:
- Gold production was 1.7 million attributable ounces, up 4% from the prior quarter.
- Revenue came to US$2.6 billion, with an…
