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Newmont Mining’s Profit and Revenue Miss Estimates as Production Slows (NEM)

Gold producer Newmont Mining Corp. ( NEM ) late Thursday posted lower-than-expected third quarter earnings results, as its output of precious metals declined amid higher costs and lower selling prices.

The Greenwood Village, CO-based company reported third quarter net income of $367 million, or 74 cents per share, compared with $493 million, or 98 cents per share, in the year-ago period. Excluding one-time charges, adjusted profit was 85 cents per share.

Revenue slipped 9.6% from last year to $2.48 billion.

On average, Wall Street analysts expected a higher profit of 91 cents per share, on larger revenue of $2.52 billion.

Newmont Mining shares fell $1.00, or -1.9%, in premarket trading Friday.

Newmont Mining Corp. ( NEM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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

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

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