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Newmont Corp. sold less gold in the fourth quarter, but pricesfor the precious metal was stronger than the year before,bolstering profit.

The gold miner reported net income of $764 million for thequarter, up from $561 million the year earlier. Earnings per commonshare increased to $1.02 from 69 cents.

  1. Sold less gold in the fourth quarter, but prices for the precious metal was stronger than the year before, bolstering profit. The gold miner reported net income of $764 million for the quarter, up from $561 million the year earlier. Earnings per common share increased to $1.02 from 69 cents.
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The company's adjusted profit for the fourth quarter, also $1.06a share, was ahead of the 95 cents a share that analysts polled byFactSet predicted for that metric.

Sales rose to $3.38 billion from $2.97 billion a year earlier,though fell short of the $3.48 billion consensus estimate for thelatest quarter, according to FactSet.

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Overall, attributable gold ounces sold fell 10%, while priceswere up 25% to $1,852 for each troy ounce, the company said. Goldproduction in the quarter of more than 1.6 million ounces was downfrom more than 1.8 million ounces a year earlier, but higher thanthe third quarter.

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(END) Dow Jones Newswires

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February 18, 2021 08:03 ET (13:03 GMT)

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