Gold miner Newmont’s Q3 profit soars, stock slips

Reuters reports that Newmont Mining Corp (NYSE:NEM) reports a 38 percent increase in quarterly profit.

The market news is quoted as saying:

Newmont, which operates mines in North and South America, Australia, Indonesia and Africa, narrowed its full-year gold production to a range of 5.3 million ounces to 5.4 million ounces from 5.3 million to 5.5 million. The Denver-based company also increased its costs applicable to sales for the year to a range of $485 to $500 per ounce from $460 to $480.

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