Newmont Corp (NEM)

Newmont Corporation (NEM) stock fell by 7.60% due to following its quarterly earnings report. The mining company showed lower-than-expected figures.

• Quarterly Earnings Miss: Despite reporting earnings of $0.50 per share, Newmont fell short of the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.44 per share in the previous year, adjusted for non-recurring items.
• Earnings Surprise and Revenue Performance: The quarterly report represented an earnings surprise of -1.96%. While revenues for the quarter ended December 2023 stood at $3.96 billion, surpassing the Zacks Consensus Estimate by 24.77%, the company has only exceeded consensus revenue estimates once in the last four quarters.