Newmont Co. (NEM) To Go Ex-Dividend on March 4th

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 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend 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 dividend payout ratio of 26.2% meaning its dividend is sufficiently covered by earnings. Research 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

NEM stock opened at $45.25 on Friday. The stock has a market cap of $51.52 billion, a PE ratio of 15.44, a P/E/G ratio of 0.41 and a beta of 0.52. Newmont has a 12 month low of $29.42 and a 12 month high of $58.72. The company has a 50-day moving average price of $41.56 and a 200 day moving average price of $46.46. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.29. The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Equities research analysts anticipate that Newmont will post 3.45 earnings per share for the current year.

Insider Activity at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,154 shares of company stock valued at $1,166,843 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. CIBC lowered shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Scotiabank dropped their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. Finally, CLSA initiated coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.37.

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.