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

Newmont Co. (NYSE:NEM) announced a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Investors 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 yield of 2.21%. The ex-dividend date is Tuesday, March 4th.

Newmont has decreased its dividend payment by an average of 23.1% annually over the last three years. Newmont has a dividend payout ratio of 26.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Newmont to earn $3.45 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 29.0%.

Newmont Stock Performance

NYSE NEM traded down $2.84 during mid-day trading on Friday, reaching $45.25. 12,999,478 shares of the stock were exchanged, compared to its average volume of 9,290,684. The business’s 50 day moving average is $41.46 and its 200-day moving average is $46.47. Newmont has a 1 year low of $29.42 and a 1 year high of $58.72. The company has a market capitalization of $51.52 billion, a P/E ratio of -29.77, a P/E/G ratio of 0.40 and a beta of 0.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

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 analysts’ consensus estimates of $1.11 by $0.29. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. On average, equities research analysts forecast that Newmont will post 3.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NEM. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group began coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and reduced their target price for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada raised their price target on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average target price of $53.37.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $128,670.00. Following the sale, the executive vice president now owns 79,596 shares of the company’s stock, valued at approximately $3,413,872.44. This represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,154 shares of company stock valued at $1,166,843 over the last ninety days. Company insiders own 0.06% of the company’s stock.

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.