Newmont shrugs off 13% gold-price correction with record second-quarter free cash flow, tops earnings estimates

Gold prices fell 13% in Q2, but the world’s largest gold miner’s strong earnings and reaffirmed full-year production guidance suggest the down move hasn’t broken its operating trajectory. The company maintained its outlook despite the commodity pullback, supporting a mildly positive near-term read-through for gold miners.

Analysis

Gold prices fell 13% in Q2, but the world’s largest gold miner’s strong earnings and reaffirmed full-year production guidance suggest the down move hasn’t broken its operating trajectory. The company maintained its outlook despite the commodity pullback, supporting a mildly positive near-term read-through for gold miners.