Newmont Corp. recently announced its highest quarterly profit since 2019, which was primarily driven by the increase in gold prices.

However, the company's stock experienced a significant decline as the reported results fell short of what was expected by Wall Street. In postmarket trading, shares dropped by as much as 7.2%, reaching a low of $53.60 in New York.

Despite the impressive profit figures, the company's third-quarter results did not meet analysts' forecasts for revenue and adjusted earnings. This discrepancy has raised concerns among investors, highlighting the challenges faced by the world's leading gold producer in meeting market expectations.