Barrick Falls Behind Rivals as No. 2 Miner Misses Boost From Bullion Boom [BNN Bloomberg (Canada)]
Newmont Corporation (NEM)
Last newmont corporation earnings: 2/20 06:55 am
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Source: BNN Bloomberg
Missed production targets, higher operational costs and political turbulence at mines in Africa and Asia have investors turning increasingly sour on the world's second-biggest gold producer. On Thursday, Barrick posted gold output that missed analysts' estimates for the 11th straight quarter. Barrick is one of several miners that have struggled to capitalize on the bullion boom amid higher mining costs and weaker output. But among the largest precious metal producers — Newmont Corp., Agnico Eagle Mines Ltd. and AngloGold Ashanti Ltd. — Barrick has routinely underperformed, with its shares virtually unchanged since the beginning of January. Gold, meanwhile, has soared 30% in the period. Chief Executive Officer Mark Bristow's explanation: “We're rebuilding the business.” Barrick has spent years working to improve its balance sheet after amassing debt from acquisitions. Bristow, who joined as CEO in 2019 as part of the Canadian company's takeover of Randgold Resources Ltd., has pa
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- Newmont Co. (NYSE: NEM) was upgraded by analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating.MarketBeat
NEM
Earnings
- 10/23/24 - Beat
NEM
Sec Filings
- 11/18/24 - Form 8-K
- 11/12/24 - Form SC
- 11/6/24 - Form 4
- NEM's page on the SEC website