Newmont Corporation (ASX: NEM) shares are ending the week in a subdued manner.
In morning trade, the gold giant's shares are down slightly to $60.99.
However, shareholders aren't likely to be too bothered by this small decline for a couple of reasons.
The first is that Newmont shares are up approximately 15% over the past six weeks, so a small blip today isn't bad in the grand scheme of things.
Another reason they may not be overly fazed by today's subdued performance is that it is payday for them.
Payday for owners of Newmont shares
In October the gold miner, which acquired Newcrest Mining earlier this year, released its third-quarter update.
It produced 1.3 million ounces of gold with an all-in sustaining cost of US$1,426 an ounce and an average realised price of US$1,920 an ounce.
This underpinned the generation of US$1 billion of cash from continuing operations and US$397 million of free cash flow, which allowed the miner to declare a third-quarter dividend of 40 US cents per share.
Earlier this week, the currency conversion was finalised, meaning local investors will receive approximately 59.426 Australian cents per share when it is paid today.
Based on the current Newmont share price of $60.99, this equates to a 1% yield. Which isn't bad for a quarterly payout.
Should you invest?
Analysts at Macquarie are feeling bullish on the gold miner at present.
Last week, in response to a site visit, the broker put an outperform rating and $69 price target on its shares. This implies a potential upside of 13% for investors over the next 12 months.
Its analysts see scope for the miner's Boddington gold-copper mine to be a globally significant tier-one asset with a mine life potentially stretching out as far as 2060.
