Newmont (NEM) Jumps 6.89% on Better Income, Dividend News
Newmont rallied for a second day on Friday, jumping 6.89 percent to close at $65.75 apiece as investor sentiment was bolstered by an impressive earnings performance and news that it will distribute cash dividends to its shareholders.
In its earnings release, Newmont Corporation (NYSE:NEM) said net income attributable to shareholders in the second quarter of the year jumped by 142 percent to $2.06 billion from $853 million in the same period last year.
Adjusted EBITDA also rose by 52 percent to $2.997 billion from $1.966 billion.
Additionally, attributable gold production ended lower by 8 percent during the period at 1.48 million ounces versus 1.61 million ounces year-on-year, driven by the previously announced closing of non-core asset sales. However, the closure was partially offset by higher production from four other sites.
Copyright: tomas1111 / 123RF Stock Photo
The average realized gold price increased by 41 percent to $3,320 from $2,347 year-on-year.
In other news, Newmont Corporation (NYSE:NEM) also declared a $0.25 cash dividend to each common shareholder as of September 4. The dividends will be payable on September 29.
While we acknowledge the potential of NEM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the .
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