Newmont Corporation (NYSE:NEM) Declares Quarterly Dividend of $0.26

Newmont Corporation (NYSE:NEM) declared a quarterly dividend on Thursday, April 23rd. Stockholders of record on Wednesday, May 27th will be paid a dividend of 0.26 per share by the basic materials company on Monday, June 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, May 27th.

Newmont has decreased its dividend by an average of 0.0%annually over the last three years. Newmont has a dividend payout ratio of 23.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Newmont to earn $9.97 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 10.4%.

Newmont Stock Down 0.8%

NEM opened at $111.00 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. Newmont has a 12 month low of $48.27 and a 12 month high of $134.88. The stock has a market capitalization of $119.87 billion, a P/E ratio of 17.37, a P/E/G ratio of 0.85 and a beta of 0.46. The business has a 50 day simple moving average of $114.75 and a 200-day simple moving average of $104.44.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The firm had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter in the prior year, the business posted $1.25 earnings per share. Newmont’s revenue was up 45.8% compared to the same quarter last year. On average, equities analysts anticipate that Newmont will post 8.92 earnings per share for the current fiscal year.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total value of $339,270.00. Following the sale, the executive vice president directly owned 52,315 shares in the company, valued at $5,916,303.35. This represents a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David James Fry sold 18,394 shares of Newmont stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider owned 17,147 shares of the company’s stock, valued at $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 24,394 shares of company stock worth $2,713,281 over the last quarter. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Newmont

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Newmont by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock worth $13,390,613,000 after purchasing an additional 637,996 shares during the last quarter. State Street Corp lifted its stake in shares of Newmont by 1.0% during the fourth quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock valued at $4,988,491,000 after buying an additional 480,223 shares during the period. Van ECK Associates Corp lifted its stake in shares of Newmont by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock valued at $2,973,539,000 after buying an additional 5,643,496 shares during the period. Geode Capital Management LLC boosted its position in Newmont by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock worth $2,738,756,000 after acquiring an additional 946,824 shares during the last quarter. Finally, Norges Bank purchased a new stake in Newmont in the 4th quarter worth approximately $1,443,128,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long?lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.