Benzinga | Jul 30, 2020 08:03AM EDT

Newmont: Q2 Earnings Insights

Shares of Newmont (NYSE:NEM) moved lower by 1% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 166.67% year over year to $0.32, which missed the estimate of $0.33.

Revenue of $2,365,000,000 rose by 4.79% year over year, which missed the estimate of $2,370,000,000.

Outlook

Newmont hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: Jul 30, 2020

Time: 09:00 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Fpro.benzinga.com%2Fdashboard%2F&eventid=2403610&sessionid=1&key=9D2317EEE2A4454B3462A9807D6CCAD2&regTag=&sourcepage=register

Price Action

Company's 52-week high was at $70.30

Company's 52-week low was at $33.00

Price action over last quarter: Up 8.73%

Company Profile

Newmont is the world's largest gold producer. In 2019, the company produced 6.3 million attributable ounces of gold and 624 million attributable gold equivalent ounces from the sale of byproducts. On a long-term basis, the company expects to produce 6.2 to 6.7 million ounces of annual gold production while driving all-in sustaining costs down to $800 per $900 per ounce. In comparison, 2019 AISC was $966 per ounce.