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

Newmont Co. (NYSE:NEM) announced a quarterly dividend on Friday, February 21st, 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 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend 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% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NEM stock traded down $2.84 on Friday, hitting $45.25. 12,999,478 shares of the stock traded hands, compared to its average volume of 9,290,684. The firm has a market cap of $51.52 billion, a price-to-earnings ratio of -29.77, a PEG ratio of 0.40 and a beta of 0.52. Newmont has a 52 week low of $29.42 and a 52 week high of $58.72. The firm has a 50 day simple moving average of $41.46 and a two-hundred day simple moving average of $46.47. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.11 by $0.29. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. As a group, equities research analysts predict that Newmont will post 3.11 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Harry M. Iv Conger bought 9,498 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the transaction, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’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 transaction of $120,000.00. Following the sale, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. This represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NEM. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Raymond James dropped their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Finally, Bernstein Bank lifted their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 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 given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.37.

Newmont Company Profile

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.