Jensen Huang said the physical AI that powers robots is "the next wave of AI."
Justin Sullivan/Getty
Nvidia CEO Jensen Huang highlighted robots — again — at a Taiwan tech conference Sunday.
He predicted mass production of self-driving cars and humanoid robots in the coming years.
Nvidia makes software and hardware for robots.
Jensen Huang really loves robots.
The Nvidia CEO paraded nine human-like robots on stage earlier this year. He highlighted them again in a Sunday speech at a Taiwan tech conference, saying that two kinds of robots in particular will be "very high volume." These are self-driving cars and humanoid robots, he said.
"The next wave of AI is physical AI. AI that understands the laws of physics. AI that can work among us," a black jacket-clad Huang said. "Everything is going to be robotic. All of the factories will be robotic. The factories will orchestrate robots and those robots will be building products that are robotic."
Chip giant Nvidia has much to gain from wide robot adoption: Its software and hardware can be used in production, training, and ongoing use of the robots.
The company built an operating system for self-driving cars and will start producing cars in a partnership with Mercedes next year, Huang said Sunday.
Nvidia also created an operating system for robots to learn in virtual environments. Before robots work in the physical world, their systems can be refined in a "robot gym," Huang said, where they fine-tune everything from motor skills, like grasping objects, to navigating environments, like moving around warehouses.
"The easiest robot to adapt into the world are human or robots because we built the world for us. We also have the most amount of data to train these robots than other types of robots because we have the same physique," Huang said.
In March, he called building models for robots "one of the most exciting problems to solve in AI today."
The company is also investing in robot startups, such as $50 million to Figure AI, which is building robots for dangerous warehouse jobs.
"This isn't the future. This is happening now," Huang said on Sunday.
GameStop shares surged ahead of Monday's opening bell after trader Keith Gill, who posts on social media under the aliases "Roaring Kitty" and "DeepFuckingValue," revealed he holds a $116 million stake in the struggling retailer.
The stock was up 84% in premarket trading shortly before 5 a.m. Eastern Time after an account snapshot posted on Reddit's r/SuperStonk forum revealed that Gill holds five million GameStop shares.
Late on Sunday the trader also posted a picture of a reverse "Uno" card on X, which had 56,000 likes at last check.
The Galileo Mining Ltd (ASX: GAL) share price was a very strong performer on Monday.
The small-cap mineral exploration company’s shares ended the day 12% higher after announcing a deal with ASX 200 mining giant Mineral Resources Ltd (ASX: MIN).
Why has it signed a deal with this ASX 200 mining stock?
According to the release, Galileo Mining has entered into a farm-in and joint venture agreement (JVA) with Mineral Resources.
Under the agreement, the company will sell 30% of all lithium rights held by Galileo on the Norseman tenement to Mineral Resources for a $7.5 million cash consideration.
The release notes that Mineral Resources has already completed comprehensive due diligence prior to execution. As a result, there are no conditions precedent to completion of the transaction with the ASX 200 mining stock and the deal is expected to close within five business days of the execution of the JVA.
From completion, Mineral Resources and Galileo will form a 30%/70% unincorporated joint venture. However, Mineral Resources has the ability to increase its stake to 55% by sole funding an additional $15 million of exploration expenditure on the tenements over the four years following completion.
The ASX 200 mining stock also has the further ability to elect to increase its stake to 70% by sole funding expenditure through to a decision to mine. At that point, Galileo Mining must elect to either remain in a joint venture and contribute to development costs or convert its interest into a royalty.
‘Excited’
Galileo’s managing director, Brad Underwood, was very pleased with the deal. He commented:
We are excited to add a lithium exploration joint venture to our ongoing exploration programs for PGEs and nickel at our Norseman Project. The Norseman project has excellent lithium potential and is strategically located in the world’s most prospective region for lithium. The project’s outstanding location relative to existing infrastructure provides a short cut to development for any lithium resources discovered through the joint venture.
Galileo will benefit from a focussed program of lithium exploration by MinRes, one of Australia’s pre-eminent lithium companies, as well as increasing our cash reserves to aggressively pursue other high value resource discoveries at both our Norseman and Fraser Range projects. With $5 million of additional funding to be received within five days of execution of the agreement, a further $2.5 million to be received within 12 months, and $10 million in the bank, Galileo is fully funded to undertake all of its planned exploration programs.
Should you invest $1,000 in Galileo Mining Ltd right now?
Before you buy Galileo Mining Ltd shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Galileo Mining Ltd wasn’t one of them.
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And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Tyson Garvin, a Joplin, Missouri-based resident, polished his CyberTruck to give it a chrome finish.
Tyson Garvin
Tyson Garvin waited nearly 5 years to get his Cybertruck.
He told BI that he knew he wanted to polish it the moment he ordered the truck.
Garvin argued that polishing the truck makes vehicle maintenance much easier.
A Cybertruck owner had his stainless steel truck polished to a mirrored finish, which he claims solved the vehicle's oft-reported dust and fingerprint issues.
Tyson Garvin, a boating enthusiast from Joplin, Missouri, knew he wanted to polish his Cybertruck from the moment he pre-ordered it nearly five years ago.
"When we ordered it on Tesla's announcement day, I knew I was going to polish it that day," Garvin told Business Insider in an interview.
Finally, after years of patiently waiting, Garvin got his truck in April. But, after seeing it in person, he told BI there was much left to be desired.
"I didn't like it when I first got it," he said. "It was actually very dirty when I picked it up. It was a very bad delivery experience. And just the look of it — the dull stainless steel isn't evenly brushed."
That's when Garvin tapped Brylee Waits over in Neosho, Missouri, just south of Joplin.
Waits began a polishing business about three years ago. He named his company after what his former coworker used to refer to him as at his old job: The Polishing Guy.
Brylee Waits, right, and three of his employees covered in residue from the polishing compound and the Cybertruck's stainless steel.
Brylee Waits
"It just kind of grew from there," Waits told BI. "It's something that I could pass down to my kids and we could live a lifestyle where I don't have to struggle everyday."
Waits's business mainly specializes in semi-trucks — not stainless steel EVs.
But Waits said he hates saying no, so when Garvin approached him in early May at a local lifted-truck show requesting to chrome out his Cybertruck, The Polishing Guy took the challenge.
"I wouldn't say it was the hardest project," Waits said. "I guess it was a tough project just because it's never been done."
Overall, Waits estimated that the job took about a week and 120 man-hours with three other employees.
Tyson Garvin takes a selfie off of his mirrored Cybertruck.
Tyson Garvin
Garvin told BI that the outcome was a vast improvement to his truck — not just aesthetically but also practically.
"It doesn't have all the porous stainless steel that holds all the oil from your fingerprints," he said, adding that the bugs and dirt also make the truck hard to clean.
But with the polishing job, Garvin said the vehicle is much easier to maintain.
"The more you clean it, the shinier it gets," Garvin claimed.
A Tesla spokesperson did not respond to a request for comment sent over the weekend.
After Garvin shared the finished product on social media on May 27, Waits told BI that he received more than 60 inquiries about Cybertruck polishing jobs. He now has four trucks waiting to be polished.
A disco ball on wheels
Some skeptical commenters wondered if the mirror-finished would pose a road hazard. So far, Garvin said he hasn't run into any issues.
One of his concerns was if the headlights from a car behind him would reflect off the truck's tailgate while driving at night, giving the appearance of another car facing the driver.
The rear of Tyson Garvin's polished Cybertruck.
Tyson Garvin
Garvin told BI that, thankfully, the Cybertruck's tailgate slightly faces downward toward the road. When his wife followed him while driving, Garvin said that all she could see was the reflection of the ground.
"There's been a lot of talk on the internet from people saying whether someone could polish the Cybertruck or not," Garvin said. "Most people said you couldn't because of certain kinds of stainless steel used in the manufacturing process, but none of that mattered."
Ukrainian soldiers prepare for training as the war between Russia and Ukraine continues in Donetsk Oblast, Ukraine on May 28, 2024.
Diego Herrera Carcedo/Anadolu via Getty Images
Front-line Ukrainian units getting new troops told the Post they have a massive training problem.
They said commanders have to re-teach soldiers on the front basic skills like firing their weapons.
Some said Ukrainian training centers also don't have bullets and grenades for new recruits.
Ukrainian soldiers say their reinforcements are arriving on the front lines without fundamental skills such as assembling rifles and firing their weapons, The Washington Post reported.
The outlet spoke to commanders and newly deployed troops on the front, who said their units must re-train soldiers being sent from the rear.
The report, published Sunday, underscores concerns that have been voiced for months by Ukrainian units, who say they're running out of experienced troops as the war drags on.
As Ukraine rotates men from rear posts to relieve its front-line fighters, some fresh arrivals aren't meeting their commanders' basic requirements, per the Post. Notably, these aren't even the newly conscripted men Kyiv has been aggressively drafting in the last few months.
One officer of the 93rd Mechanized Brigade, identified by his call sign Schmidt, told the Post that some of his new men didn't know how to assemble or disassemble their rifles.
"We are just wasting a lot of time here on basic training," said Schmidt, per The Post. He added that he required new arrivals to train in their first week by firing about 1,500 bullets daily.
The 93rd Mechanized Brigade has seen some of the heaviest fighting in the war, including the battles for Bakhmut, Kharkiv, and Adviivka.
A Ukrainian anti-aircraft gunner of the 93rd Separate Mechanized Brigade Kholodny Yar holds a cat from his position in the direction of Bakhmut in the Donetsk region in February.
ANATOLII STEPANOV/AFP via Getty Images
The Post reports that the new men in Schmidt's unit will likely be deployed near the devastated city of Chasiv Yar in Donetsk. One newly arrived soldier, identified by call sign Val of the 93rd Mechanized Brigade, told the outlet he was assigned to the front line with a day's notice.
Another soldier from the 42nd Mechanized Brigade in Kharkiv told the outlet that "everything is learned on the spot."
As for new recruits, Ukraine's training centers are barely equipped to provide soldiers with basic training, per the Post.
One instructor told the outlet that some facilities don't have enough Soviet-caliber bullets and only allow trainees to shoot about 20 rounds before training ends. The officer was not named because he did not have the authority to speak about his tenure at the facility.
"There are no grenades for throwing in training centers, and there are no grenade launcher rounds in the training center," he told the Post.
"We don't have a proper training system in place," he added.
Ukraine's Ministry of Defense press team did not immediately respond to a request for comment sent outside regular business hours by Business Insider.
Why the world cares about Ukraine's training
The West has been highly concerned about training for Ukraine's troops. Kyiv recently started receiving a stalled tranche of US military equipment and weaponry, but dwindling manpower is undermining that.
Russia and pro-Kremlin pundits have blasted such a move as an escalation by NATO that would cross a red line. Meanwhile, Moscow's economy is on a war footing, recruiting new troops rapidly and putting its defense manufacturing industry into overdrive.
Its ability to resupply the battlefield with troops and equipment has led some analysts to believe it can withstand heavy losses for years.
Meanwhile, Ukraine is struggling to both find and train new men to keep up with Russia, especially with its rear vulnerable to long-range Russian strikes.
Without safe areas to conduct training, Kyiv may have little choice but to send personnel to NATO states — even more so when it comes to Ukrainian operators learning how to use new Western-supplied equipment.
The UK hosts trainings for Ukrainian troops under its Operation Interflex program.
HENRY NICHOLLS/AFP via Getty Images
"There is a difficult tradeoff to make between pulling experienced soldiers from the frontline to train new personnel or accepting bottlenecks in training the new personnel," the Institute for the Study of War, a Washington-based think tank, wrote on Sunday.
The ISW added that the overall quality of Ukraine's frontline troops will probably decrease as experienced fighters rotate out, but the newer soldiers will likely learn fast alongside veterans.
It also noted that the Post's report of Ukrainian commanders training their troops on the frontline shows a difference in emphasis between Kyiv and Moscow's forces, citing how Russian commanders were widely reported to send their poorly trained men as cannon fodder.
It was a great start to the trading week this Monday for the S&P/ASX 200 Index (ASX: XJO) and most ASX shares.
After a rough week last week, the ASX 200 looks to have turned over a new leaf today, recording a healthy rise of 0.77%. That leaves the index at 7,761 points.
This happy start for ASX shares comes after a mixed close to the American trading week last Friday night (our time).
The Dow Jones Industrial Average Index (DJX: .DJI) had a cracking time, shooting 1.51% higher.
But the Nasdaq Composite Index (NASDAQ: .IXIC) wasn’t quite as lucky, slipping 0.012% lower.
Let’s get back to this week though and check out how the different ASX sectors travelled through today’s jubilent stock market moves.
Winners and losers
Although most sectors recorded a rise today, there were a couple that missed out.
The first and worst of those was the gold sector. The All Ordinaries Gold Index (ASX: XGD) was hammered, tanking by 1.41%.
Tech shares were also left out in the cold. The S&P/ASX 200 Information Technology Index (ASX: XIJ) went backwards by 0.72%.
Communications stocks had a sad day too, as you can see from the S&P/ASX 200 Communication Services Index (ASX: XTJ)’s 0.04% retreat.
But that’s it for the losers. Turning to the winners now, it was financial shares that came in the hottest. The S&P/ASX 200 Financials Index (ASX: XFJ) was on fire, banking a gain of 1.54% this Monday.
Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Amcor Plc wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Amcor Plc. The Motley Fool Australia has recommended Challenger and Orora. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
It was only a few days ago that we learned that Gina Rinehart retained her spot as Australia’s richest person for 2024. With a fortune worth over $40 billion, Rinehart saw her wealth rise a healthy 8.5% since the 2023 rich list was released. So it goes without saying that investors are going to be paying close attention to any ASX shares (usually ASX mining shares) that Rinehart might be buying or selling.
We’ve documented a few of Rinehart’s ASX mining shares in recent years, including Azure Minerals Ltd (ASX: AZS) here and Titan Minerals Ltd (ASX: TTM) here.
But today, let’s talk about Vulcan Energy Resources Ltd (ASX: VUL).
It appears Rinehart is doubling down on this ASX mining share this week.
Rinehart buying up ASX mining share
According to an ASX filing released this morning, Vulcan confirmed that a number of institutional investors have just made a large investment in the company. This was done via a private share placement program.
The filing states that CIMIC Group, Victor Smorgon Group and Hancock Prospecting have all been issued with additional Vulcan shares. CIMIC made a 25 million euro investment and was issued with 10 million shares as a result. Victor Smorgon invested 2.5 million Euros and was awarded 1 million shares.
Hancock came right in the middle, investing 12.5 million Euros ($20.41 million) and receiving 5 million shares for its efforts.
These investments were executed at a price of 2.50 Euros per share, or $4.08. That’s reportedly a 9% discount to Vulcan’s 30-day volume weighted average price as of last Friday.
Collectively, they have raised 40 million Euros (approximately $65 million) for Vulcan.
Vulcan stated the following in light of these cash injections:
The Investments demonstrate commitment from strategic investors to support the lithium value chain globally and the construction of Phase One of Vulcan’s integrated renewable energy and ZERO CARBON LITHIUM Project (the Project) in Germany…
These strategic Investments will materially contribute to the funding of pre-execution activities during the final stage of Project financing and protection of the Project’s deterministic execution schedule.
Specifically in relation to Hancock Prospecting, Vulcan expanded:
HPPL [Hancock Prospecting Pty Ltd] is Australia’s most successful private company and has maintained a significant shareholding in Vulcan since January 2021. Through its [12.5 million Euro] Investment, HPPL has increased its substantial shareholding to ~7.5% of the outstanding share capital of Vulcan. HPPL will become Vulcan’s second largest shareholder…
HPPL and Vulcan have shared a supportive, long-term relationship, with HPPL maintaining a top-5 shareholding position in the Company since January 2021. Today’s investment builds upon this, with HPPL increasing their ownership to ~7.5% of Vulcan’s issued capital. Vulcan welcomes HPPL’s increased investment and looks forward to a further continuation of the strong partnership between the two companies.
Investors lap up Hancock’s buy
It’s clear that the markets approve of this announcement from Vulcan today. The Vulcan Energy Resources share price closed at $4.74 last Friday afternoon and opened at $4.62 this morning. But at market close today, those same shares finished trading at $5.08, up 7.17% for the day.
That puts this ASX mining share up a huge 80.78% in 2024 to date. Vulcan is also up 34.75% over the past 12 months.
However, Rinehart might still be underwater from some of Hancock’s 2021 investments in the company. Back in 2021, Vulcan shares got as high as $16 each. As such, some long-term investors would remain down on their investments at the current share price.
Should you invest $1,000 in Vulcan Energy Resources Limited right now?
Before you buy Vulcan Energy Resources Limited shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Vulcan Energy Resources Limited wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
GYG sells Mexican-inspired, made-to-order food across drive-through restaurants and outlets on shopping strips, food courts and universities. The quick-service restaurant (QSR) has been thinking about an IPO for years and it is finally making the jump.
GYG aims for $2.2 billion valuation
The company is aiming to raise approximately A$242.5 million in the ASX IPO, by selling 11.1 GYG shares at a price of $22 per share. This includes existing shareholders selling $42.5 million of shares during the process.
Guzman y Gomez plans to use the $200 million of primary proceeds to fund its growth strategy over the coming years, with a focus on the “significant expansion” of its corporate restaurant network in Australia. The funds will provide flexibility to accelerate its growth strategy if “appropriate opportunities arise”.
If GYG is successful with its ASX IPO, the offer price will value the company at approximately $2.2 billion.
There is no offer for the general public. However, GYG shares are available to institutional investors, clients of some brokers, other eligible GYG shareholders and certain investors, eligible employees of GYG in Australia and eligible franchisees. The general public can buy GYG shares on the market once shares are trading later in June.
GYG has received “considerable support” and demand from existing shareholders including Aware Super, Cooper Investors, Hyperion Asset Management, Firetrail Investments and QVG Capital.
According to Guzman y Gomez, the board, senior management and existing substantial investors will own 62% of the business after the ASX IPO.
The offer is reportedly fully underwritten by Barrenjoey and Morgan Stanley Australia.
GYG shares are expected to start trading on 20 June 2024, initially on a conditional and deferred settlement basis under the ticker ‘GYG’.
Guzman y Gomez’s plans for growth
The business opened its first restaurant in Sydney in 2006, and it now has 210 restaurants across four countries, with 185 restaurants in Australia, 16 in Singapore, five in Japan and four in the US.
GYG expects to open 30 new Australian restaurants in FY25 and believes it can increase this to opening 40 restaurants per year within five years. GYG thinks it can grow its Australian network to more than 1,000 restaurants over the next two or so decades.
Of Guzman y Gomez’s 185 Australian restaurants, 62 are corporate restaurants and 123 are franchise restaurants. The Singapore and Japan restaurants are owned and operated by separate master franchisees, while the four in the US are corporate restaurants.
Between FY15 and FY23, GYG’s global network sales have increased from $101 million to $759 million. The Mexican food business is expecting global sales of $1.14 billion in FY25 thanks to “strong comparable sales growth and ongoing network expansion.”
Management believes there is a large growth opportunity in the US fast food market, but it will adjust the pace of restaurant expansion to ensure “robust restaurant economics”. All four of its US stores are in the suburbs of Chicago.
GYG said the health and profitability of its franchisees are “fundamental.” According to GYG, its Australian franchisee return on investment is 51%.
Management comments
The GYG founder and co-CEO Steven Marks said:
Over the last 18 years, the team at GYG have been obsessed with providing our guests with the freshest, cleanest and fastest made-to-order Mexican-inspired food. I am incredibly proud to say that we now do this across more than 200 restaurants in Australia, Singapore, Japan and the US. And the most exciting part is that we are just getting started.
As we commence the next chapter as an ASX-listed company, our vision to reinvent fast food and change the way the masses eat will remain central to what we do. We truly believe that fast food doesn’t have to be bad food and we look forward to sharing our food with more guests across Australia and overseas as we look to realise the opportunity we have to grow our network to more than 1,000 restaurants over the next 20+ years.
What next for the potential GYG shares?
The Guzman y Gomez ASX IPO offer opens on 10 June 2024, and GYG shares are expected to start trading on 20 June 2024 on a conditional and deferred settlement basis. Normal trading is expected on 25 June 2024.
Wondering where you should invest $1,000 right now?
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Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now…
Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Stormy Daniels (left), former President Donald Trump (center), and his wife Melania Trump (right).
Jacek Boczarski/Anadolu Agency via Getty Images; Alon Skuy via Getty Images; Justin Lane/Pool via Getty Images
Stormy Daniels says Melania should leave former president Donald Trump.
Trump was found guilty of all 34 felony counts related to a hush-money payment to Daniels.
Daniels said Trump should go to prison or become a "volunteer punching bag at a women's shelter."
Melania Trump should leave Donald Trump, said Stormy Daniels, breaking the media silence she had held since Trump was convicted on Thursday.
"I don't know what their agreement may or may not be, but Melania needs to leave him. Not because of what he did with me or other women but because he is a convicted felon," the adult film star said in an interview with The Mirror published over the weekend.
Daniels, whose real name is Stephanie Clifford, didn't mince her words about Trump in the interview.
"It's been proven he is abusive, he was found liable for sexual assault and tax fraud and is now a criminal," Daniels told The Mirror. "He's neither Teflon Don nor Teflon Con anymore."
Representatives for Trump didn't immediately respond to a request for comment from BI sent outside regular business hours.
While Trump has appeared defiant in the face of his growing legal problems, staffers say he is often afraid of Melania's reactions to them.
When Trump's infamous "Access Hollywood" tape was released in 2016, he took two hours before finally deciding to see her, per an excerpt from The Washington Post reporter Mary Jordan's book on Melania, "The Art of Her Deal: The Untold Story of Melania Trump."
"I think he should be sentenced to jail and some community service working for the less fortunate, or being the volunteer punching bag at a women's shelter," Daniels told The Mirror.
Trump's recent conviction doesn't seem to have dampened his appeal to his supporters, who continue to view him as the GOP's best shot at retaking the White House in November.
"The American people see through Crooked Joe Biden's rigged show trial. So many Americans were moved to donate to President Trump's campaign that the WinRed pages went down," Trump's campaign team said in a post on X.
It’s a big day for ASX gold shareNewmont Corporation (ASX: NEM) this Monday. Not that you’d know it from looking at the Newmont share price right now.
This gold miner is having a decent, if uninspiring, session so far this Monday. At the time of writing, Newmont shares are up 0.1% at $62.51 each. That’s a gain of a fraction of the size of the S&P/ASX 200 Index (ASX: XJO)’s lift of 0.81%.
But that’s not why it’s a big day for Newmont shares, if that isn’t obvious. No, today is the day that Newmont stock has traded ex-dividend for its upcoming quarterly shareholder dividend payment.
Because Newmont is a US-domiciled company with its ASX shares only a secondary listing, it adheres to an American-style dividend policy. That means its dividends come without franking credits, but are paid out every three months. That’s instead of the six-month interval that is common on the ASX.
The latest dividend from Newmont will be worth 25 US cents per share (worth around 38 cents at today’s exchange rates). It will be doled out later this month on 27 June. This dividend will come in right between Newmont’s previous two ASX payments. These were worth 41.6 cents (paid out in December) and 26.5 cents per share (March) respectively.
However, as we warned last week, today is the day that Newmont has traded ex-dividend for this upcoming payment. This means that anyone who didn’t own Newmont shares as of market close on Friday is now ineligible to receive this dividend. So even if you buy Newmont stock today, you’ll miss out on this latest payment. Instead, you’ll have to wait until the company’s next dividend is declared to receive any cash flow.
What about the Newmont share price?
As many ASX dividend investors would know, it is normal to see a dividend share fall substantially in value upon its ex-dividend date. This reflects the inherent loss of value for the investors buying the stock without the rights to receive the latest dividend attached.
However, this doesn’t seem to be occurring today. The Newmont share price closed at $62.45 each last Friday but opened at $62.88 this morning. The gold miner is currently sitting at $62.51. That’s up 0.1% for the day thus far, as we touched on earlier.
All we can conclude from this strange stock price movement is that Newmont shares would be even higher today if not for the company trading ex-dividend.
Newmont investors can all now look forward to bagging the company’s dividend payment on 27 June.
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Newmont wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor Sebastian Bowen has positions in Newmont. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
