Newmont Mining Co. (NYSE:NEM) announced a quarterly dividend on Tuesday, April 24th, RTT News reports. Stockholders of record on Thursday, June 7th will be given a dividend of 0.14 per share by the basic materials company on Thursday, June 21st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.36%.
Newmont Mining has increased its dividend by an average of 3.6% annually over the last three years and has increased its dividend every year for the last 2 years. Newmont Mining has a dividend payout ratio of 20.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Newmont Mining to earn $1.77 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 16.9%.
Shares of NYSE:NEM traded down $0.01 during trading on Tuesday, reaching $41.05. 3,958,574 shares of the stock traded hands, compared to its average volume of 5,430,479. Newmont Mining has a 52-week low of $31.42 and a 52-week high of $42.04. The company has a quick ratio of 3.14, a current ratio of 3.63 and a debt-to-equity ratio of 0.35. The stock has a market cap of $22,059.18, a price-to-earnings ratio of 28.12 and a beta of 0.25.
Newmont Mining (NYSE:NEM) last issued its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.40 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.40. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.92 billion. Newmont Mining had a negative net margin of 1.33% and a positive return on equity of 6.52%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 earnings per share. sell-side analysts anticipate that Newmont Mining will post 1.45 earnings per share for the current year.
A number of research analysts recently weighed in on NEM shares. Scotiabank set a $48.00 price objective on shares of Newmont Mining and gave the company a “buy” rating in a research report on Monday, January 15th. BMO Capital Markets set a $46.00 price objective on shares of Newmont Mining and gave the company a “buy” rating in a research report on Wednesday, March 28th. Zacks Investment Research upgraded shares of Newmont Mining from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Friday, February 9th. Bank of America increased their price objective on shares of Newmont Mining from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, ValuEngine upgraded shares of Newmont Mining from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $42.93.
In other Newmont Mining news, EVP Elaine J. Dorward-King sold 3,000 shares of the stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $39.33, for a total value of $117,990.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $40.23, for a total transaction of $50,287.50. Following the completion of the transaction, the chief operating officer now owns 83,112 shares in the company, valued at $3,343,595.76. The disclosure for this sale can be found here. Insiders sold 23,450 shares of company stock worth $919,544 over the last quarter. Insiders own 0.36% of the company’s stock.
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About Newmont Mining
Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of February 22, 2018, the company had proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles.
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