Q3 2024 Earnings, Part 1: Newmont's Good/Bad News

A rising gold price will enable well-run miners to turn higher revenues into much higher earnings and cash flow. Which, in a rational world, should send money pouring into mining shares.

But the “well-run” caveat is key. A miner must control its costs, or the formula won’t work.

Newmont was the first big miner to report Q3 numbers, and the news was… mi…