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

Newmont Co. (NYSE:NEM) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Tuesday, March 4th will be paid a dividend of 0.25 per share by the basic materials company on Thursday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Tuesday, March 4th.

Newmont has decreased its dividend payment by an average of 23.1% per year over the last three years. Newmont has a dividend payout ratio of 28.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Newmont to earn $3.80 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 26.3%.

Newmont Trading Up 1.7 %

Shares of NYSE NEM opened at $42.83 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average of $42.01 and a two-hundred day moving average of $46.28. Newmont has a 1-year low of $31.67 and a 1-year high of $58.72. The company has a market cap of $48.26 billion, a PE ratio of 14.62, a P/E/G ratio of 0.41 and a beta of 0.52.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.29. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. As a group, equities analysts expect that Newmont will post 3.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. This represents a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the transaction, the director now owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,154 shares of company stock worth $1,166,843 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on NEM. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. TD Securities dropped their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday. Raymond James dropped their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Finally, The Goldman Sachs Group assumed coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.16.

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.