Given what we view as a high-quality management team and robust balance sheet, Colorado’s Newmont (NEM, Financial) is a prime example of a miner that was prepared to meet the challenges of Covid-19. With rigorous protocols already in place, the company has been proactive in managing its mines to protect local communities and infrastructure while at the same time mitigating the pandemic’s impact on its business. In contrast with broad market trends that have companies cutting or suspending dividend payments, Newmont recently increased its quarterly dividend by 79%.
From First Eagle Investment (Trades, Portfolio)'s Gold Fund second-quarter 2020 commentary.
