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

Newmont Co. (NYSE:NEM) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Tuesday, March 4th will be given 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 yield of 2.21%. The ex-dividend date 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 payout ratio of 26.2% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 5.9 %

Newmont stock traded down $2.84 during trading hours on Friday, hitting $45.25. The stock had a trading volume of 17,229,932 shares, compared to its average volume of 9,447,639. The stock has a market cap of $51.52 billion, a price-to-earnings ratio of -29.77, a P/E/G ratio of 0.40 and a beta of 0.52. The business’s 50 day simple moving average is $41.46 and its 200-day simple moving average is $46.47. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont has a one year low of $29.42 and a one year high of $58.72.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Bernstein Bank increased their price target on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, Raymond James decreased their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.37.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the transaction, the executive vice president now owns 79,596 shares in the company, valued at $3,413,872.44. This trade represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the transaction, the director now owns 52,070 shares in the company, valued at $2,082,800. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,154 shares of company stock valued at $1,166,843. Company insiders own 0.06% of the company’s stock.

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.