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3 Dividend Gold Stocks

November 27, 2020 2:42 pm
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3 Dividend Gold Stocks

Gold stocks could be a good way for investors to diversify their portfolios and get exposure to the commodity. Some gold miners pay dividends that also reward shareholders along the way.

Here is a look at three dividend gold stocks that yield over 1.5%.

Newmont Corporation: The world’s leading gold company is Newmont Corporation (NYSE:NEM).

The gold company also has the highest dividend payout amount and dividend yield in the sector at the time of writing, with $1.60 annual and 2.8%, respectively.

Newmont saw record third-quarter results with over 1.5 million ounces of gold mined.

The company raised the dividend in the third quarter, pushing its yield over the S&P 500 index average. Newmont has returned $2.5 billion to shareholders in 2019 and 2020 through dividends and share buybacks.

Newmont has been public since 1925 and is the only gold producer in the S&P 500.

Newmont stock is up 31% in 2020 and up 216% over the last five years.

Related Link: Should You Invest In Gold Right Now

Barrick Gold: Operating with 16 sites in 13 countries, Barrick Gold Corporation (NYSE:GOLD) is one of the largest miners in the world.

In the first nine months of 2020, Barrick mined 3.6 million ounces of gold. Revenue for Barrick was $9.3 billion in the first nine months.

Barrick raised its quarterly dividend from 8 cents to 9 cents in the third quarter.

Barrick Gold made headlines when Berkshire Hathaway (NYSE: BRK-Atook a $562-million stake in the company. Some have said it may not have been Warren Buffett who made the purchase, as he has been vocal against gold for years.

Over the last five years, Barrick shares are up over 200%. Shares are up 23% in 2020.

Agnico Eagle Mines: Canadian miner Agnico Eagle Mines (NYSE:AEM) operates mines in Canada, Finland and Mexico. The company also has pipeline for projects in the United States.

The company raised its dividend in the third quarter by 75% and now has a dividend yield of 2.2%.

Agnico has paid a dividend every year since 1983.

“The company and its shareholders have full exposure to gold prices due to its long-standing policy of no forward gold sales.”

Through the first nine months of 2020, the company mined 1.2 million ounces of gold.

Shares of Agnico are up 2% in 2020 and up over 130% over the last five years.

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