Newmont Corporation (NEM) to Issue Quarterly Dividend of $0.26 on March 26th

Newmont Corporation (NYSE:NEM) declared a quarterly dividend on Thursday, February 19th. Investors of record on Tuesday, March 3rd will be paid a dividend of 0.26 per share by the basic materials company on Thursday, March 26th. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, March 3rd. This is a 4.0% increase from Newmont’s previous quarterly dividend of $0.25.

Newmont has decreased its dividend by an average of 0.1%annually over the last three years. Newmont has a payout ratio of 22.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Newmont to earn $3.80 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 26.3%.

Newmont Price Performance

Shares of Newmont stock opened at $122.16 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $113.12 and its two-hundred day moving average price is $92.97. Newmont has a 52 week low of $41.23 and a 52 week high of $134.88. The stock has a market cap of $133.31 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 1.05 and a beta of 0.40.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.71. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.58%. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 EPS. As a group, sell-side analysts anticipate that Newmont will post 3.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director directly owned 32,709 shares of the company’s stock, valued at $3,021,003.24. The trade was a 5.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NEM. Estate Counselors LLC bought a new position in shares of Newmont in the third quarter valued at approximately $4,182,000. AustralianSuper Pty Ltd boosted its holdings in Newmont by 124.8% during the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after acquiring an additional 183,360 shares during the period. Knights of Columbus Asset Advisors LLC grew its position in shares of Newmont by 286.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock valued at $5,101,000 after purchasing an additional 44,846 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Newmont by 176.4% in the second quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock worth $26,098,000 after purchasing an additional 285,897 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Newmont by 172.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $362,888,000 after purchasing an additional 2,723,044 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.