Newmont (NEM) Jumps 6.89% on Better Income, Dividend News

We recently published 10 Shares Explode as Earnings Impress. Newmont Corporation (NYSE:NEM) is one of the best-performing stocks on Friday.

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.

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.

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