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NEW YORK — Newmont Mining, one of the world’s top gold producers, says its first-quarter earnings surged as gold prices spiked amid weakness in global financial markets and the U.S. dollar.
Denver-based Newmont Mining Corp. says it earned $370 million, or 81 cents per share, up sharply from year-ago profit of $68 million, or 15 cents per share. Earnings from continuing operations totaled 80 cents per share in the latest period.
Revenue climbed to $1.94 billion from $1.22 billion, as the average price per ounce of gold jumped to $933 from $649 a year earlier.
Thomson Financial says analysts expected a profit of 54 cents per share on revenue of $1.66 billion.
—————— AP Business Writer Jennifer Malloy
