888 Gold Tokens
By Micah Maidenberg
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Newmont Corp. sold less gold in the fourth quarter, but pricesfor the precious metal was stronger than the year before,bolstering profit.
The gold miner reported net income of $764 million for thequarter, up from $561 million the year earlier. Earnings per commonshare increased to $1.02 from 69 cents.
The company's adjusted profit for the fourth quarter, also $1.06a share, was ahead of the 95 cents a share that analysts polled byFactSet predicted for that metric.
Sales rose to $3.38 billion from $2.97 billion a year earlier,though fell short of the $3.48 billion consensus estimate for thelatest quarter, according to FactSet.
Overall, attributable gold ounces sold fell 10%, while priceswere up 25% to $1,852 for each troy ounce, the company said. Goldproduction in the quarter of more than 1.6 million ounces was downfrom more than 1.8 million ounces a year earlier, but higher thanthe third quarter.
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Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
February 18, 2021 08:03 ET (13:03 GMT)