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

Newmont Co. (NYSE:NEM) announced a quarterly dividend on Wednesday, October 23rd,Zacks Dividends reports. Shareholders 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 yield of 2.31%. The ex-dividend date of this dividend is Wednesday, November 27th.

Newmont has increased its dividend payment by an average of 15.4% annually over the last three years. Newmont has a payout ratio of 26.4% indicating that its dividend is sufficiently covered by earnings. 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 Up 0.1 %

Newmont stock opened at $43.38 on Monday. Newmont has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average of $50.23 and a 200-day moving average of $47.51.

Newmont (NYSE:NEM) last released its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (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%. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 EPS. Equities analysts predict that Newmont will post 3.09 EPS for the current year.

Insider Activity at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was 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 in the company, valued at approximately $15,293,378.43. This represents a 6.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. This trade represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,000 shares of company stock worth $2,444,440. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Thursday, August 29th. UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and decreased their price target for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Bernstein Bank increased their price objective on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Finally, Veritas upgraded shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.85.

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.