Newmont beats quarterly profit estimates on higher gold prices

Oct 22 (Reuters) Newmont beat analysts third-quarter profit estimates on Thursday, as the ​world s biggest gold miner ‌benefited from higher prices of the metal. Gold prices have stayed high despite a stronger dollar ‌and ​inflation concerns ⁠tied to higher ⁠oil prices during the US war on Iran. Prices of the yellow metal averaged $4,204.59 per ​ounce in the third quarter of 2026, up ⁠about 17.6% from ⁠a year earlier. Quarterly ​average realized price for gold ​was at $4.317 per ounce, compared ‌with $3,539 per ounce a year ago. But Newmont s quarterly gold production fell to 1.30 ⁠million ounces from 1.42 million ounces a year earlier. On an adjusted basis, ⁠the ‌company earned $2.20 per ⁠share for the quarter ​ended ‌September 30, compared ​with analysts ⁠average estimate of $2.05 per share, according to data compiled by LSEG. (Reporting by Varun Sahay in Bengaluru; Editing by ​Sahal Muhammed)