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

Newmont Co. (NYSE:NEM) declared 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 is Tuesday, June 4th.

Newmont has raised its dividend payment by an average of 15.4% per year over the last three years. Newmont has a payout ratio of 38.6% meaning 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

NEM 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 company has a market capitalization of $50.04 billion, a price-to-earnings ratio of -18.24, a P/E/G ratio of 1.07 and a beta of 0.50. The firm’s fifty day moving average price is $35.35 and its two-hundred day moving average price is $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 data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The business’s revenue for the quarter was up 50.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 EPS. As a group, analysts anticipate that Newmont will post 1.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NEM shares. Royal Bank of Canada cut their price target on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. Citigroup decreased their price target on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Jefferies Financial Group initiated coverage on Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target on the stock. Finally, StockNews.com cut Newmont from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued 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.