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3 Glittering Gold Stocks To Watch As Prices Rise

Newmont Mining ( NEM ) had nearly $1.25 billion in cash at the end of its quarter ending June 30, 2013. The firm pays a dividend of $1.40, which yields 4.32%. Last quarter, Newmont lost $2.1 billion, after accounting for $2.26 billion in write-offs for mines located in Australia. Newmont produced 1.16 million ounces of gold, a 1% decrease from the previous year. The firm will be spending up to $2.4 billion in capital expenditures this year.

Kinross Gold Corp. ( KGC ) is another gold miner to consider. Hedge fund legend Seth Klarman recently took a small position in Kinross – opening a 2.1 million share position in the second quarter. Meanwhile Kinross suspended paying dividends. This move will save $182 million annually. In the last quarter, Kinross earned $0.10 per share on revenue of $968 million.

 

Written by Chris Lau, Kapitall contributor. All data sourced from Finviz.

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