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Newmont reports solid fourth-quarter profit estimates, plans to divest mines in Canada, Australia
Higher gold prices and solid production drove fourth-quarter earnings for the world’s largest gold miner. Thursday, ahead of the North American trading session, Newmont Corporation (NYSE: NEM) reported adjusted net income of $486 million or $0.50 per share for the fourth quarter of 2023, up sharply compared to $286 million or $0.36 per share reported in the third quarter. The adjusted income didn’t include $2.5 billion in losses due to impairment charges and the $464 million spent to buy Australian-based Newcrest. The company’s earnings in the year's final three months slightly missed analyst expectations, as ... (full story)