Newmont surpassed Wall Street expectations for second-quarter profit as the world's top gold miner benefited from a rally in bullion prices, sending its shares 4% higher in extended trading on Thursday.

The mining company reported higher profit as concerns about market volatility have driven the price of gold to record highs in recent months.

The Details: Newmont reported quarterly earnings of $1.43 per share, which beat the analyst estimate of $1.12. Quarterly revenue came in at $5.31 billion, which beat the analyst consensus estimate of $4.93 billion and is up from $4.4 billion in the prior year’s quarter.