https://www.nasdaq.com/articles/newmont-nem-reports-q3-earnings-what-key-metrics-have-say
Newmont was the first gold producer to post Q3 earnings. They blew out all of the estimates. EPS more than double last year.
I guess one could argue the price has already risen enough to cover that doubling of EPS. AVG Gold price was just over $3,500 so next Q will be even more. Will be interesting to see what happens to all of the next miners now that Newmont confirmed the AVG price.
The amount of debt these guys paid off in this year is wild too. assuming other co’s will step up thier buy backs and dividends which are mostly small now as a %.
The 2 really bad days this past week still didnt wipe out the last 4 weeks of gains so we’ll see what comes next. I’m not in Newmont.
I’d love to pour over a WSB thread on this but they dont seem to care?