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

Newmont Co. (NYSE:NEM) declared a quarterly dividend on Wednesday, October 23rd,Zacks Dividends reports. Stockholders of record on Wednesday, November 27th will be paid a dividend of 0.25 per share by the basic materials company on Monday, December 23rd. This represents a $1.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Wednesday, November 27th.

Newmont has raised its dividend payment by an average of 15.4% annually over the last three years. Newmont has a dividend payout ratio of 26.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Newmont to earn $3.71 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 27.0%.

Newmont Trading Down 2.1 %

Shares of Newmont stock opened at $42.46 on Tuesday. Newmont has a 1 year low of $29.42 and a 1 year high of $58.72. The company has a market capitalization of $48.34 billion, a price-to-earnings ratio of -27.93, a P/E/G ratio of 0.38 and a beta of 0.51. The business has a fifty day simple moving average of $50.01 and a two-hundred day simple moving average of $47.51. 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 posted its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. Newmont’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. Research analysts forecast that Newmont will post 3.09 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on NEM shares. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and dropped their price target for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Finally, Bernstein Bank boosted their price target on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $54.31.

Insiders Place Their Bets

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the sale, the chief executive officer now directly owns 291,469 shares of the company’s stock, valued at $15,293,378.43. The trade was a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now directly owns 94,596 shares in the company, valued at approximately $4,963,452.12. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,000 shares of company stock worth $2,444,440. Corporate 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.