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Peter Schiff says Newmont Mining beats Q2 estimates, pushing stock higher

Peter Schiff says Newmont Mining beats Q2 estimates, pushing stock higher
@PeterSchiff: Newmont Mining exceeds estimates

Peter Schiff, a prominent financial analyst, reports that Newmont Mining has exceeded expectations for its Q2 earnings. The company outperformed by 38% against the consensus estimate of $1.04.

Year-over-year, quarterly revenue rose by 20.8%. The average realized gold prices increased significantly by 41.4%, while net cash soared by an impressive 137.7%. Additionally, the company's debt was reduced by 17.9%. Consequently, Newmont Mining's stock (NEM) climbed 7%, yet Schiff notes that at about 13 times earnings, the stock remains undervalued.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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