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

Newmont Co. (NYSE:NEM) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders 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 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Tuesday, June 4th.

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 38.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Newmont stock opened at $43.41 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.98. The stock has a market cap of $50.04 billion, a price-to-earnings ratio of -18.24, a price-to-earnings-growth ratio of 1.07 and a beta of 0.50. The firm has a 50-day moving average of $35.35 and a two-hundred day moving average of $36.92. Newmont has a 1 year low of $29.42 and a 1 year high of $50.18.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Argus cut shares of Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. StockNews.com cut Newmont from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. Jefferies Financial Group began coverage on shares of Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 price target on the stock. Finally, Scotiabank dropped their target price on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Newmont presently has an average rating of “Hold” and an average target price of $50.89.

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.