Newmont ups its dividend

Article Excerpt

NEWMONT MINING $38.20 (New York symbol NEM; Shares outstanding: 533.3 million; Market cap: $20.5 billion; TSINetwork Rating: Average; Dividend yield: 1.5%; www.newmont.com) continues to open new mines and expand existing properties. At the same time, it has sold some of its less-profitable mines. As a result, it produced 1.34 million ounces of gold in the three months ended December 31, 2017. That’s up 1.4% from $1.32 million ounces a year earlier. Newmont’s earnings jumped 62.4%, to $216 million from $133 million a year earlier. Due to more shares outstanding, earnings per share rose 60.0%, to $0.40 from $0.25. For the quarter, revenue rose 8.2%, to $1.94 billion from $1.79 billion. Thanks to its improving outlook, Newmont has increased its quarterly dividend by 86.7%. Starting with the March 2018 payment, investors receive $0.14 a share instead of $0.075. The new annual rate of $0.56 yields 1.5%. Newmont Mining is a buy, but only for investors who want to own a gold stock. stock…

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