Newmont Mining Corp, which sources have said is in talks with Barrick Gold Corp on a merger, reported a steep drop in first-quarter earnings on Thursday as a result of lower gold and copper prices.Newmont, the world's second-biggest gold producer after Barrick, said net income from continuing operations fell to $117 million, or 23 cents per basic share, in the quarter, from $314 million, or 63 cents per share, in the same period a year ago.On an adjusted basis, Newmont reported a profit of 22 cents per share. Analysts expected Newmont to reported adjusted earnings of 19 cents a share, according to Thomson Reuters I/B/E/S.Newmont, which has mines in North and South America, Asia and Africa, said it produced 1.2 million ounces of gold in the first quarter and 24,000 tonnes of copper.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. Shares of ABX fell by 1.91% or $-0.34/share to $17.47. In the past year, the shares have traded as low as $13.43 and as high as $21.70. On average, 12867100 shares of ABX exchange hands on a given day and today's volume is recorded at 13353366.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. Shares of ABX fell by 1.74% or $-0.34/share to $19.25. In the past year, the shares have traded as low as $14.22 and as high as $23.78. On average, 3129210 shares of ABX.TO exchange hands on a given day and today's volume is recorded at 4679439.
Newmont Mining Corporation, is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Indonesia, Ghana, New Zealand and Mexico. Shares of NEM fell by 1.66% or $-0.43/share to $25.49. In the past year, the shares have traded as low as $20.79 and as high as $35.44. On average, 10246200 shares of NEM exchange hands on a given day and today's volume is recorded at 11985403.
Thomson Reuters Corporation (Thomson Reuters), is a provider of information for the world?s businesses and professionals. Shares of TRI remained unchanged at $34.41. In the past year, the shares have traded as low as $31.38 and as high as $38.73. On average, 840058 shares of TRI exchange hands on a given day and today's volume is recorded at 427170.
Thomson Reuters Corporation (Thomson Reuters), is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.13% or $0.05/share to $37.97. In the past year, the shares have traded as low as $33.02 and as high as $42.10. On average, 974842 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 571677.
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