Newmont Corporation (NEM) To Go Ex-Dividend on September 3rd

Newmont Corporation (NYSE:NEM) declared a quarterly dividend on Thursday, July 23rd. Shareholders of record on Thursday, September 3rd will be given a dividend of 0.26 per share by the basic materials company on Monday, September 28th. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, September 3rd.

Newmont has decreased its dividend by an average of 0.0%annually over the last three years. Newmont has a payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Newmont to earn $9.91 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 10.5%.

Newmont Stock Down 1.6%

NYSE:NEM opened at $125.87 on Tuesday. Newmont has a 1 year low of $72.78 and a 1 year high of $135.29. The stock has a 50-day moving average price of $104.71 and a two-hundred day moving average price of $109.53. The stock has a market cap of $132.63 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.32 and a beta of 0.47. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same quarter last year, the firm posted $1.43 earnings per share. As a group, equities analysts expect that Newmont will post 9.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NEM. Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 price target on shares of Newmont in a research note on Monday, August 24th. BMO Capital Markets cut their price objective on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. BNP Paribas Exane reduced their target price on shares of Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Barclays dropped their price target on Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 28th. Finally, Citigroup cut their price target on Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $132.73.

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.