Newmont earns $2.20 a share on an adjusted basis and cuts its full-year cost guidance to $1,520 an ounce

$1,454. That was Newmont's all-in sustaining cost for each ounce of gold in the third quarter, according to results the Denver miner filed with the SEC after the close on Thursday, and it lowered its full-year guidance on that measure to $1,520 an ounce.

Adjusted net income was $2.3bn, or $2.20 a share, against $1.9bn and $1.72 a year earlier, which the company calls a third-quarter record. Reported net income was $2.5bn. Attributable output came to about 1.3 million ounces of gold, with 11 million ounces of silver and 23,000 tonnes of copper, mostly from the mines Newmont manages itself. The realized gold price averaged $4,317 an ounce, $97 below the second quarter.

Free cash flow reached $1.9bn. Newmont says it has bought back $1.6bn of its own stock since July 23 and still expects to produce 5.3 million attributable ounces this year.

It ended September with $8.8bn of cash. A $1.95bn payment to Barrick falls due this quarter under an amended agreement for their Nevada Gold Mines joint venture, which brings in assets previously left out, among them Barrick's Fourmile and Newmont's Fiberline and Mike.