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

Newmont Co. (NYSE:NEM) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Stockholders 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 2.21%. The ex-dividend date of this dividend is Tuesday, March 4th.

Newmont has decreased its dividend by an average of 23.1% per year over the last three years. Newmont has a dividend payout ratio of 26.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of NEM stock opened at $45.25 on Friday. The business has a fifty day moving average of $41.56 and a 200 day moving average of $46.46. Newmont has a 1 year low of $29.42 and a 1 year 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. The firm has a market capitalization of $51.52 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) 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 return on equity of 13.52% and a net margin of 17.92%. As a group, research analysts expect that Newmont will post 3.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on NEM. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Bernstein Bank lifted their price objective on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Raymond James lowered their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Scotiabank reduced their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Finally, Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.37.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Harry M. Iv Conger purchased 9,498 shares of the stock in a transaction dated Wednesday, November 27th. The stock was purchased at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the purchase, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 28,154 shares of company stock worth $1,166,843 over the last 90 days. 0.06% of the stock is currently owned by company 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.