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Newmont Corp.’s quarterly profit spiked 641 percent from a year ago as asset sales, higher production and surging gold prices boosted the company’s bottom line.
The Greenwood Village, Colorado-based minerals explorer earned $837 million, or $1.04 per share, as revenue rose 43 percent year-over-year to $2.58 billion. Adjusted earnings, excluding asset sales and gold-price fluctuations, were 40 cents a share, missing the 43 cents that analysts surveyed by Refinitiv were expecting.
“Our robust balance sheet provides us with significant financial flexibility to continue allocating capital where it is needed most during this time of uncertainty, while maintaining our industry-leading returns to shareholders,” Newmont Corp. CEO Tom Palmer said in a statement.
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