GREENWOOD VILLAGE, Colo. (AP) _ Newmont Mining Corp. (NEM) on Tuesday reported second-quarter profit of $177 million.

On a per-share basis, the Greenwood Village, Colorado-based company said it had profit of 33 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 46 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.

The gold and copper miner posted revenue of $1.88 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $1.79 billion.

Newmont shares have declined slightly since the beginning of the year, while the Standard & Poor’s 500 index has climbed 10 percent. The stock has fallen 18 percent in the last 12 months.

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

Keywords: Newmont Mining, Earnings Report

Source Article