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NEM-NEWMONT CORP
Newmont Shares Plummet 14.7% Following Disappointing Q3 Earnings Amid Rising Costs and Regulatory Concerns
Thursday
07 November, 2024
Newmont Corporation's shares took a sharp 14.7% hit after disappointing Q3 earnings, revealing rising production costs and unmet expectations. With significant gold reserves and a commitment to shareholder returns, can the largest gold mining company navigate these challenges and regain investor confidence?
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Key Takeaways
- Newmont's stock has dropped 14.7% due to underwhelming third-quarter earnings.
- Increased production expenses are surpassing sales growth, threatening profit margins.
- UBS's downgrade reflects reduced investor trust in the company.
- The lack of dividend increases has frustrated shareholders.
- Limited economically recoverable gold reserves pose valuation risks for the company.
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