Newmont Corporation (NYSE:NEM) Stock to Pay Quarterly Dividend of $0.26

Newmont Corporation (NYSE:NEM) declared a quarterly dividend on Thursday, October 22nd. Investors of record on Wednesday, November 25th will be paid a dividend of $0.26 per share by the basic materials company on Monday, December 21st. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, November 25th.

Newmont has a dividend payout ratio of 23.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Newmont to earn $9.88 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 Trading Down 3.0%

Shares of Newmont stock opened at $113.63 on Friday. The stock has a fifty day simple moving average of $122.05 and a 200 day simple moving average of $111.00. Newmont has a 12-month low of $76.05 and a 12-month high of $135.29. The company has a market capitalization of $119.73 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 2.17 and a beta of 0.51. 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, October 22nd. The basic materials company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.26. The business had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.27 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%. Newmont’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.71 EPS. On average, sell-side analysts anticipate that Newmont will post 9.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NEM has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Barclays reduced their price objective on shares of Newmont from $124.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday. Bank of America dropped their target price on shares of Newmont from $157.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Citigroup lifted their target price on shares of Newmont from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, UBS Group reduced their target price on Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.06.

About Newmont

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.