Newmont Corporation Shares Plunge 13% Following Q2 Miss
<p><a href='https://financialmodelingprep.com/financial-summary/NEM'>Newmont Corporation (NYSE:NEM)</a> shares plummeted around 13% on Monday following the company’s reported Q2 results, with EPS of $0.46 coming in worse than the Street estimate of $0.68, impacted by higher operating costs, provisional pricing headwinds, and Penasquito profit sharing expenses. Revenue was $3.06 billion, compared to the Street estimate of $3.15 billion.</p>
<p>The company's free cash flow outlook has materially weakened over 2022-2024 as compared to prior expectations, and financial flexibility is now viewed as below average. </p>
<p>The analysts at RBC Capital believe it is reasonable to expect the company’s dividend policy to change later in 2022 to allow for greater latitude at current/lower gold prices. The analysts lowered their price target to $60 from $77, while reiterating their Sector Perform rating.</p>

NYSE:NEM