Newmont Mining Corp (NYSE:NEM) declared a quarterly dividend on Tuesday, February 20th, RTT News reports. Stockholders of record on Thursday, March 8th will be paid a dividend of 0.14 per share by the basic materials company on Thursday, March 22nd. This represents a $0.56 annualized dividend and a dividend yield of 1.46%. This is an increase from Newmont Mining’s previous quarterly dividend of $0.08.
Newmont Mining has increased its dividend by an average of 3.6% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Newmont Mining has a payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Newmont Mining to earn $1.35 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 22.2%.
Newmont Mining (NYSE:NEM) opened at $38.39 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.58 and a current ratio of 4.18. Newmont Mining has a 12-month low of $31.42 and a 12-month high of $42.04. The company has a market cap of $20,858.79, a PE ratio of 255.93 and a beta of 0.24.
Several equities analysts have recently commented on NEM shares. B. Riley reaffirmed a “neutral” rating on shares of Newmont Mining in a research report on Wednesday, November 1st. Zacks Investment Research raised shares of Newmont Mining from a “hold” rating to a “strong-buy” rating and set a $43.00 price target on the stock in a research report on Tuesday, December 5th. TheStreet cut shares of Newmont Mining from a “b-” rating to a “c” rating in a research report on Friday, November 17th. BMO Capital Markets set a $45.00 price objective on shares of Newmont Mining and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Finally, Deutsche Bank lowered shares of Newmont Mining from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $42.00 to $40.00 in a research note on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Newmont Mining currently has an average rating of “Hold” and an average price target of $41.80.
In other Newmont Mining news, COO Thomas Ronald Palmer sold 1,250 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $36.98, for a total value of $46,225.00. Following the sale, the chief operating officer now owns 85,612 shares in the company, valued at $3,165,931.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elaine J. Dorward-King sold 10,250 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $36.48, for a total transaction of $373,920.00. Following the completion of the sale, the executive vice president now owns 71,864 shares in the company, valued at approximately $2,621,598.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,700 shares of company stock worth $1,050,806. 0.32% of the stock is owned by company insiders.
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Newmont Mining Company Profile
Newmont Mining Corporation is a mining company, which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.
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