PerceptionHad the headlines read " Newmont has the most profitable quarter in its history"(which it did), rather than "Newmont misses analysts estimates" its SP could well have increased by 15% instead. It's all about perception and perspective.
Futhermore, gold is running about $200 above quarter 3 prices during quarter 4.
Multiply that by 2 million oz's and add it in to the 4th quarter and full year projections. Pretty sure the companies projections are based on quarter 3 prices.
As long as gold continues its upward journey, IMO, Newmont's SP has nowhere to go but up. And we may well see even higher gold prices before the years end which would create an even more optomistic picture.
I think it's rather amazing how the way an event is portrayed in the media can have such a dramatic impact.
It also wouldn't hurt if there was more positive spin built into the earnings calls. The price of gold being on a huge upswing provides that opening. USE it.