Newmont Co. (NYSE:NEM) Announces Quarterly Dividend of $0.25

Newmont Co. (NYSE:NEM) announced a quarterly dividend on Wednesday, July 24th, Zacks reports. Shareholders of record on Thursday, September 5th will be given a dividend of 0.25 per share by the basic materials company on Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, September 5th.

Newmont has increased its dividend payment by an average of 15.4% annually over the last three years. Newmont has a dividend payout ratio of 27.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Newmont to earn $3.40 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 29.4%.

Newmont Price Performance

Shares of NYSE NEM opened at $53.39 on Tuesday. The stock has a market cap of $61.57 billion, a PE ratio of -20.00, a price-to-earnings-growth ratio of 0.39 and a beta of 0.47. Newmont has a fifty-two week low of $29.42 and a fifty-two week high of $53.88. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11. The stock has a fifty day moving average of $47.65 and a 200-day moving average of $41.61.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.10. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The firm’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 earnings per share. Equities research analysts anticipate that Newmont will post 2.82 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. BMO Capital Markets lifted their price target on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $48.00 to $59.00 in a research note on Monday, August 19th. JPMorgan Chase & Co. lowered Newmont from an “overweight” rating to a “neutral” rating in a research note on Monday, July 8th. BNP Paribas raised Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Finally, Jefferies Financial Group lifted their price target on Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $42.13, for a total transaction of $547,690.00. Following the transaction, the chief executive officer now owns 331,469 shares in the company, valued at approximately $13,964,788.97. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.