Newmont Co. (NEM) To Go Ex-Dividend on November 27th

Newmont Co. (NYSE:NEM) declared a quarterly dividend on Wednesday, October 23rd,Zacks Dividends reports. Investors of record on Wednesday, November 27th will be paid a dividend of 0.25 per share by the basic materials company on Monday, December 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Wednesday, November 27th.

Newmont has raised its dividend payment by an average of 15.4% annually over the last three years. Newmont has a payout ratio of 26.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Newmont to earn $3.71 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 27.0%.

Newmont Trading Up 0.1 %

Shares of NYSE:NEM opened at $43.38 on Monday. Newmont has a 12-month low of $29.42 and a 12-month high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm has a fifty day moving average of $50.23 and a two-hundred day moving average of $47.51.

Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period in the previous year, the business posted $0.36 EPS. Newmont’s revenue for the quarter was up 84.7% on a year-over-year basis. Equities analysts predict that Newmont will post 3.09 earnings per share for the current year.

Insider Activity

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. This represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the sale, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at $4,928,780.76. This represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock valued at $2,444,440 over the last 90 days. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price target for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Bernstein Bank raised their price objective on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Jefferies Financial Group increased their price target on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.85.

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.