Newmont Corp. (NYSE:NEM), the world’s largest gold miner, saw its share price spike 13% on Thursday after the Denver-based company posted stronger-than-expected earnings.
This ignited a broad-based rally in the gold mining industry, despite the overall weak investor sentiment elsewhere.
Newmont is currently on track to achieve its best-performing session since April 2020, when the mining giant rallied following a major volatility event due to the Covid-19 pandemic.
Chart: Newmont Eyes Top-Performing Session Since April 2020
Newmont Sharply Beats Estimates, Declares First Quarter Dividend
Newmont reported earnings per share (EPS) of $0.55 in Q1 2024, marking a 38% increase from the corresponding quarter of the previous year and surpassing Street’s consensus estimates of $0.36 by a significant 54%, according to Benzinga Pro platform. ...Full story available on Benzinga.com
Related tickers: GDX, RGLD, AEM, AU, BVN, CDE, NEM, GDXJ, DRD.
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