⁍ Gold prices touched record highs during the quarter as a slowdown in economic activity and surging coronavirus cases sent investors to the precious metal.
⁍ The miner said its average realized gold price jumped 30% to $1,913 per ounce in the third quarter.
⁍ Newmont on Wednesday increased its quarterly dividend 60% to 40 cents per share.
– Newmont Corp.’s third-quarter profit dropped 44%, but the gold producer still beat analysts’ estimates. The company’s shares rose as much as 4% after it reported adjusted profit of $611 million, or 86 cents per share, in the July-September quarter, up from 36 cents per share a year ago, reports Reuters. The Wall Street Journal notes that Newmont’s profit was helped by a 30% rise in the gold price to $1,913 per ounce.
Source: https://www.reuters.com/article/us-newmont-results/newmont-quarterly-profit-more-than-doubles-on-rising-gold-prices-idUSKBN27E1Y0