NEM

Gold miner Newmont beats Q4 profit estimates, plans to divest six mines

Credit: REUTERS/DADO RUVIC

Adds details on fourth-quarter results

Feb 22 (Reuters) - Newmont Corp NEM.N, the world's largest gold miner, beat fourth-quarter profit estimates on Thursday and said it will divest six non-core assets.

The assets being divested include its Eleonore mine in Quebec and Porcupine mine in Ontario, along with two non-core projects including the Coffee mine in Yukon and Newcrest's Havieron mine in Western Australia.

On an adjusted basis, the company posted a net income of 50 cents per share for the quarter ended Dec. 31, compared with analyst estimates of 46 cents per share per LSEG data.

The Denver, Colorado-based miner said it intends to focus on its 10 tier-1 assets which will drive long-term growth and forecast 2024 production guidance of nearly 6.9 million gold ounces, compared with the 5.5 million gold ounces produced in 2023.

(Reporting by Seher Dareen in Bengaluru; Editing by Krishna Chandra Eluri)

((Seher.Dareen@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.