Yesterday was a big day for big cap mining stocks as we got a slew of earnings reports from them – and some huge dividend boosts for shareholders.
NEM posted big earnings growth Tuesday, although its stock fell because gold fell that day and the earnings didn’t beat analyst expectations. But it was still big growth.
Yesterday though Barrick reported so much growth that it boosted its dividend by 25%. Kirkland Lake also posted a 50% dividend boost and saw its stock go up almost 3% yesterday on the news. Take a look at the chart.
KL had a nice volume pop on the news and has been one of the very top performing mining stocks in its sector all year. I own NEM, GOLD, and KL. I made KL my top stock pick for the month back in July when it was below $40.00.
And of course my stock pick for the month has been trading nicely.
A lot of things are now heating up in the mining world. The folks at oilprice.com are laser focused this week on a story breaking on a gold company put together by mining legend Stan Barhti in Africa. You can find that story here.