Newmont Co. (NEM) to Issue Quarterly Dividend of $0.25 on September 30th

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

Newmont has raised its dividend by an average of 15.4% per year over the last three years. Newmont has a dividend payout ratio of 27.2% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 0.4 %

Shares of NYSE NEM opened at $53.39 on Tuesday. The firm’s 50-day moving average is $47.65 and its 200-day moving average is $41.61. Newmont has a 1 year low of $29.42 and a 1 year high of $53.88. The firm has a market capitalization 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. The company has a current ratio of 2.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.31.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $50.00 in a research note on Monday, June 17th. Jefferies Financial Group lifted their price target on shares of Newmont from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, July 12th. CIBC raised shares of Newmont from a “neutral” rating to a “sector outperform” rating and lifted their price target for the company from $46.00 to $61.00 in a research note on Wednesday, July 10th. Finally, Sanford C. Bernstein cut their price target on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a research note on Thursday, May 16th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average target price of $51.46.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $42.13, for a total transaction of $547,690.00. Following the transaction, the chief executive officer now directly owns 331,469 shares in the company, valued at $13,964,788.97. The sale was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is owned by corporate insiders.

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.