Why Newmont Stock Rocked the Market Today
Historically high gold prices are giving a real lift to precious metals miner Newmont (NYSE: NEM). On Wednesday, just after market close, the company published its latest set of quarterly figures, and on the back of the yellow metal's popularity, they were golden. Thursday saw something of a bull run on the company's shares, as they closed the trading session nearly 5% higher in price. That compared well to the 2% rise of the S&P 500 index.Newmont reported that its revenue for the first quarter was $5.01 billion, which was nearly $1 billion higher than the $4.02 billion it booked in the same period of last year. Non-GAAP (adjusted) net income more than doubled to over $1.4 billion from the year-ago profit of $630 million. Continue reading
Historically high gold prices are giving a real lift to precious metals miner Newmont (NYSE: NEM). On Wednesday, just after market close, the company published its latest set of quarterly figures, and on the back of the yellow metal's popularity, they were golden.
Thursday saw something of a bull run on the company's shares, as they closed the trading session nearly 5% higher in price. That compared well to the 2% rise of the S&P 500 index.
Newmont reported that its revenue for the first quarter was $5.01 billion, which was nearly $1 billion higher than the $4.02 billion it booked in the same period of last year. Non-GAAP (adjusted) net income more than doubled to over $1.4 billion from the year-ago profit of $630 million.