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

Newmont Co. (NYSE:NEM) declared a quarterly dividend on Wednesday, October 23rd, Zacks reports. Investors 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 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, November 27th.

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 25.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Newmont to earn $3.83 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 26.1%.

Newmont Stock Down 14.7 %

NEM stock opened at $49.25 on Friday. The firm has a fifty day moving average price of $53.43 and a two-hundred day moving average price of $46.74. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. Newmont has a 1-year low of $29.42 and a 1-year high of $58.72. The firm has a market cap of $56.51 billion, a price-to-earnings ratio of -23.23, a PEG ratio of 0.49 and a beta of 0.50.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the company earned $0.36 EPS. Newmont’s revenue was up 84.7% compared to the same quarter last year. Research analysts predict that Newmont will post 3.07 EPS for the current year.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the transaction, the chief executive officer now directly owns 311,469 shares in the company, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the transaction, the chief executive officer now owns 311,469 shares in the company, valued at $15,420,830.19. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,000 shares of company stock valued at $3,434,640. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NEM has been the subject of a number of analyst reports. BMO Capital Markets boosted their price objective on Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. cut shares of Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Veritas upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, September 30th. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and increased their price objective for the stock from $46.00 to $61.00 in a report on Wednesday, July 10th. Finally, Jefferies Financial Group raised their target price on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.46.

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.