Newmont Mining Corporation (NEM) Declares $0.08 Quarterly Dividend
Newmont Mining Corporation (NYSE:NEM) announced a quarterly dividend on Tuesday, October 24th, RTT News reports. Stockholders of record on Friday, December 8th will be given a dividend of 0.075 per share by the basic materials company on Thursday, December 28th. This represents a $0.30 annualized dividend and a dividend yield of 0.80%.
Newmont Mining Corporation has decreased its dividend payment by an average of 53.3% annually over the last three years. Newmont Mining Corporation has a payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Newmont Mining Corporation to earn $1.14 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 26.3%.
Shares of Newmont Mining Corporation (NYSE:NEM) opened at 37.37 on Tuesday. The stock’s 50 day moving average price is $38.08 and its 200 day moving average price is $35.38. Newmont Mining Corporation has a 12-month low of $30.19 and a 12-month high of $39.62. The company’s market cap is $19.93 billion.
Newmont Mining Corporation (NYSE:NEM) last released its earnings results on Tuesday, July 25th. The basic materials company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.20. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Newmont Mining Corporation had a positive return on equity of 6.67% and a negative net margin of 6.73%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. On average, analysts forecast that Newmont Mining Corporation will post $1.42 EPS for the current year.
In related news, COO Thomas Ronald Palmer sold 1,250 shares of Newmont Mining Corporation stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $37.11, for a total transaction of $46,387.50. Following the transaction, the chief operating officer now directly owns 90,612 shares in the company, valued at $3,362,611.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary J. Goldberg sold 1,000 shares of Newmont Mining Corporation stock in a transaction on Friday, September 1st. The shares were sold at an average price of $38.60, for a total value of $38,600.00. Following the transaction, the insider now owns 334,730 shares in the company, valued at $12,920,578. The disclosure for this sale can be found here. Insiders have sold 29,707 shares of company stock worth $1,120,866 over the last quarter. 0.32% of the stock is owned by company insiders.
NEM has been the subject of a number of research analyst reports. Jefferies Group LLC restated a “hold” rating and issued a $35.00 target price (down previously from $37.00) on shares of Newmont Mining Corporation in a research note on Friday, July 14th. Credit Suisse Group set a $45.00 target price on Newmont Mining Corporation and gave the company a “buy” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada set a $41.00 price objective on Newmont Mining Corporation and gave the company a “hold” rating in a research report on Monday, August 28th. Zacks Investment Research raised Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Wednesday, October 18th. Finally, BidaskClub lowered Newmont Mining Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $40.59.
Newmont Mining Corporation Company Profile
Newmont Mining Corporation is a mining company, which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.
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