Newmont's Q1 Beats, Share Buybacks Boost Stock

Newmont Minings stock surged by 8.5% on Friday, outperforming golds modest 0.2% gain. Despite first-quarter earnings that exceeded expectations, the companys revenue jumped by 45.9% to $7.31 billion, and adjusted earnings per share soared by 132% to $2.90. Newmonts all-in sustaining costs dropped to $1,029 per ounce, while gold sales averaged $4,900 per ounce. The companys share buybacks, totaling $2.4 billion since mid-February, and a new $6 billion repurchase program, have investors excited. While costs may rise due to higher oil prices and geopolitical tensions, Newmont remains a strong play if gold continues to shine. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/df5a092d3307c580