Newmont tops Street 3Q forecasts

GREENWOOD VILLAGE, Colo. (AP) _ Newmont Mining Corp. (NEM) on Thursday reported third-quarter net income of $206 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Greenwood Village, Colorado-based company said it had profit of 38 cents. Earnings, adjusted for one-time gains and costs, came to 35 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.

The gold and copper miner posted revenue of $1.88 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $1.84 billion.

Newmont shares have risen almost 8 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 14 percent. The stock has increased slightly in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NEM at https://www.zacks.com/ap/NEM

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