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

Newmont Co. (NYSE:NEM) declared 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 2.19%. The ex-dividend date is Thursday, September 5th.

Newmont has increased its dividend payment by an average of 15.4% per year over the last three years. Newmont has a payout ratio of 28.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Newmont to earn $3.31 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 30.2%.

Newmont Trading Down 4.2 %

NEM stock opened at $45.70 on Friday. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. The company has a market cap of $52.70 billion, a price-to-earnings ratio of -17.12, a PEG ratio of 0.38 and a beta of 0.47. The business has a fifty day simple moving average of $43.33 and a 200-day simple moving average of $38.73. Newmont has a 52 week low of $29.42 and a 52 week high of $48.97.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. Newmont had a positive return on equity of 8.65% and a negative net margin of 13.16%. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same period last year, the business posted $0.33 EPS. On average, equities research analysts expect that Newmont will post 2.64 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Bank of America raised their price target on shares of Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. JPMorgan Chase & Co. cut shares of Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Scotiabank lifted their target price on Newmont from $46.50 to $48.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. Finally, CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and increased their price target for the company from $46.00 to $61.00 in a report on Wednesday, July 10th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

Insider Transactions at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $42.13, for a total value of $547,690.00. Following the transaction, the chief executive officer now owns 331,469 shares of the company’s stock, valued at $13,964,788.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

About Newmont

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.