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Newmont’s Third Quarter Earnings Disappoints Though Management Remains Very Shareholder Friendly

publication date: Nov 3, 2021
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Image Shown: Though Newmont Corporation’s third quarter earnings disappointed, the gold miner remains very shareholder friendly. Image Source: Newmont Corporation – Third Quarter of 2021 IR Earnings Presentation. 

One of our favorite mining plays is the gold miner Newmont Corporation, which has producing assets around the world including in Australia, Argentina, the Dominican Republic, Ghana, Mexico, Peru, Suriname, Canada, and the US. Newmont has a robust development pipeline in those countries via new producing mines and expansion projects (roughly 88% of Newmont’s reserves are in the Americas and Australia), along with potential upside in Japan, Ethiopia, Colombia, and elsewhere. The company’s management team is incredibly shareholder friendly (its quarterly payout has grown from $0.14 per share in 2019 to $0.55 per share currently and the firm is actively buying back its stock), and Newmont’s free cash flow generating abilities are impressive. We like Newmont as an idea in the Dividend Growth Newsletter portfolio. As of this writing, shares of NEM yield a nice ~4.1%.

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