Here's Why Newmont Corporation Stock Fell 15% in October

Shares of Newmont Corporation (NYSE: NEM) dropped 15% last month, according to data provided by S&P Global Market Intelligence. The mining stock released quarterly-earnings results in October that were mostly in line with analyst expectations. However, its commentary raised concerns about rising costs.Newmont Corporation's quarterly-earnings report looked positive at first glance.Gold represents over 80% of the company's revenue, and surging precious metal prices fueled significant growth last quarter. The mining powerhouse achieved $4.6 billion of quarterly revenue, representing 85% growth over last year. Sales growth drove massive gains on the company's bottom line. Its operating earnings more than quadrupled, while free cash flow has tripled year to date (YTD). It was Newmont's most-profitable quarter in years.IMAGE SOURCE: GETTY IMAGES.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool