05:08 PM EDT, 10/23/2024 (MT Newswires) -- Newmont Corporation ( NEM ) was last seen down 5.8% in after-hours New York trading as it reported an adjusted earnings miss for the third quarter.

The company, the No.1 gold miner, reported its adjusted net income, excluding most one-time items, rose to US$0.81 per share, up from US$0.36 in the year-prior quarter but missing the consensus Capital IQ forecast of US$0.85 per share.

"In the third quarter, Newmont ( NEM ) delivered 2.1 million gold equivalent ounces and generated $760 million in free cash flow from our world-class portfolio," said chief executive Tom Palmer. "We continue to make meaningful progress on our non-core divestment program with the two transactions announced in the quarter, which are expected to deliver up to $1.5 billion in combined gross proceeds. Our divestiture progress and strong free cash flow generation have positioned us to continue reducing debt and repurchasing shares, creating significant and lasting value for our shareholders."

The company's shares were last seen down US$3.34 to US$54.40 after hours. They closed down $1.18 to $79.76 on the Toronto Stock Exchange.