Oct 22 (Reuters) – Newmont beat analysts’ third-quarter profit estimates on Thursday, as the world’s biggest gold miner benefited from higher prices of the metal.
Gold prices have stayed high despite a stronger dollar and inflation concerns tied to higher oil prices during the US war on Iran.
Prices of the yellow metal averaged $4,204.59 per ounce in the third quarter of 2026, up about 17.6% from a year earlier.
Quarterly average realized price for gold was at $4.317 per ounce, compared with $3,539 per ounce a year ago.
But Newmont’s quarterly gold production fell to 1.30 million ounces from 1.42 million ounces a year earlier.
On an adjusted basis, the company earned $2.20 per share for the quarter ended September 30, compared with analysts’ average estimate of $2.05 per share, according to data compiled by LSEG.
(Reporting by Varun Sahay in Bengaluru; Editing by Sahal Muhammed)
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