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

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 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Tuesday, June 4th.

Newmont has increased its dividend payment by an average of 15.4% annually over the last three years. Newmont has a payout ratio of 38.6% indicating that 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 Down 1.6 %

NYSE NEM opened at $42.73 on Friday. The company has a current ratio of 2.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.32. Newmont has a one year low of $29.42 and a one year high of $50.18. The stock has a 50 day moving average price of $35.54 and a 200-day moving average price of $36.95.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates 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 6.88% and a negative net margin of 20.19%. The company’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 EPS. On average, equities analysts forecast that Newmont will post 2.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. TD Securities raised their price target on Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a research report on Friday. National Bank Financial restated an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. Argus downgraded Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Royal Bank of Canada reduced their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $51.75.

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.