3 Takeaways From Newmont Mining's Q3 Earnings
On the surface, Newmont Mining (NYSE: NEM), the largest gold miner by market cap, gave investors cause for celebration by beating analysts' earnings estimates. Evidently, though, the market wasn't impressed; shares dropped 2.6% the day after the company reported. Was the market's reaction warranted? Let's dig in deeper to find the salient details of the company's quarterly performance.
Consistent with the company's gold price-linked dividend policy -- providing an annualized dividend of $0.30 per share when the average quarterly price of gold is between $1,250 and $1,299 per ounce -- Newmont declared a $0.075 dividend per share, representing a 50% year-over-year increase.
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Source: Fool.com
