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

Newmont Co. (NYSE:NEM) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Tuesday, June 4th will be given a dividend of 0.25 per share by the basic materials company on Thursday, June 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Tuesday, June 4th.

Newmont has raised its dividend by an average of 15.4% annually over the last three years. Newmont has a dividend payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Newmont to earn $3.26 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 30.7%.

Newmont Stock Up 12.5 %

Shares of NYSE NEM opened at $43.41 on Friday. The stock has a market cap of $50.04 billion, a PE ratio of -18.24, a price-to-earnings-growth ratio of 1.07 and a beta of 0.50. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. Newmont has a 52-week low of $29.42 and a 52-week high of $50.18. The business has a 50-day moving average price of $35.35 and a 200 day moving average price of $36.92.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.35 by $0.20. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The firm’s revenue was up 50.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 EPS. Equities research analysts forecast that Newmont will post 1.99 earnings per share for the current year.

Analysts Set New Price Targets

NEM has been the subject of several research analyst reports. Argus downgraded Newmont from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Jefferies Financial Group began coverage on Newmont in a research report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price on the stock. National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. BMO Capital Markets dropped their target price on Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Finally, TD Securities decreased their price target on Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.89.

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.