Newmont Corp., the world's top gold producer, posted its biggest quarterly profit in five years as the price of bullion surged. Still, shares fell after sales and earnings missed analysts' estimates.
The Denver-based company's net income attributable to shareholders was $922 million in the third quarter, nearly six times more than the year-earlier period, according to its earnings report released Wednesday. The windfall puts Newmont on track to rake in $3.2 billion overall this year, according to analysts' estimates, which would be the company's strongest year on record.