Newmont Goldcorp Corp (NYSE:NEM) Plans Quarterly Dividend of $0.14

Newmont Goldcorp Corp (NYSE:NEM) declared a quarterly dividend on Wednesday, July 24th, Zacks reports. Shareholders of record on Thursday, September 12th will be paid a dividend of 0.14 per share by the basic materials company on Thursday, September 26th. This represents a $0.56 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, September 11th.

Newmont Goldcorp has increased its dividend payment by an average of 77.6% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Newmont Goldcorp has a dividend payout ratio of 45.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Newmont Goldcorp to earn $2.23 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 25.1%.

Shares of NEM opened at $38.06 on Tuesday. The stock has a market capitalization of $31.70 billion, a P/E ratio of 28.19 and a beta of -0.04. Newmont Goldcorp has a twelve month low of $29.06 and a twelve month high of $41.23. The company has a quick ratio of 1.38, a current ratio of 1.83 and a debt-to-equity ratio of 0.30. The firm has a fifty day simple moving average of $38.73 and a two-hundred day simple moving average of $35.70.

Newmont Goldcorp (NYSE:NEM) last released its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Newmont Goldcorp had a negative net margin of 1.03% and a positive return on equity of 4.79%. Newmont Goldcorp’s revenue was up 35.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 EPS. Sell-side analysts expect that Newmont Goldcorp will post 1.37 EPS for the current fiscal year.

In related news, CFO Nancy Buese sold 7,500 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $40.96, for a total transaction of $307,200.00. Following the sale, the chief financial officer now owns 44,944 shares of the company’s stock, valued at $1,840,906.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott P. Lawson sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $40.01, for a total transaction of $120,030.00. Following the completion of the sale, the executive vice president now owns 121,545 shares in the company, valued at approximately $4,863,015.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,220 shares of company stock valued at $3,551,640. 0.44% of the stock is currently owned by company insiders.

Several research firms recently issued reports on NEM. Deutsche Bank set a $41.00 target price on Newmont Goldcorp and gave the stock a “hold” rating in a research note on Thursday, July 11th. TheStreet raised Newmont Goldcorp from a “c+” rating to a “b-” rating in a research report on Friday, July 5th. BMO Capital Markets started coverage on Newmont Goldcorp in a report on Wednesday, July 3rd. They issued a “market perform” rating and a $45.00 price objective for the company. Royal Bank of Canada upgraded Newmont Goldcorp from an “underperform” rating to a “sector perform” rating and set a $45.00 price objective on the stock in a research report on Monday. Finally, Citigroup upgraded Newmont Goldcorp from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Thursday, May 23rd. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $42.83.

About Newmont Goldcorp

Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of December 31, 2018, the company had proven and probable gold reserves of 65.4 million ounces and an aggregate land position of approximately 24,000 square miles.

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Dividend History for Newmont Goldcorp (NYSE:NEM)

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