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

Newmont Co. (NYSE:NEM) declared a quarterly dividend on Wednesday, October 23rd,Zacks Dividends reports. Stockholders of record on Wednesday, November 27th will be paid a dividend of 0.25 per share by the basic materials company on Monday, December 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Wednesday, November 27th.

Newmont has increased its dividend payment by an average of 15.4% per year over the last three years. Newmont has a dividend payout ratio of 26.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Newmont to earn $3.71 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 27.0%.

Newmont Stock Performance

Shares of NYSE:NEM opened at $42.46 on Tuesday. The stock has a market capitalization of $48.34 billion, a price-to-earnings ratio of -27.93, a price-to-earnings-growth ratio of 0.38 and a beta of 0.51. The business’s fifty day moving average price is $50.01 and its two-hundred day moving average price is $47.51. Newmont has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. Newmont’s quarterly revenue was up 84.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share. As a group, analysts predict that Newmont will post 3.09 EPS for the current fiscal year.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the completion of the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. This trade represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $1,076,200.00. Following the sale, the chief executive officer now directly owns 271,469 shares in the company, valued at $14,607,746.89. This trade represents a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock valued at $2,444,440 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NEM shares. Raymond James lowered their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Jefferies Financial Group boosted their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and cut their price target for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.31.

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.