Newmont Corporation (NYSE:NEM – Get Free Report) announced a quarterly dividend on Thursday, July 23rd. Stockholders of record on Thursday, September 3rd will be paid a dividend of 0.26 per share by the basic materials company on Monday, September 28th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, September 3rd.
Newmont has decreased its dividend by an average of 0.0%per year over the last three years. Newmont has a payout ratio of 23.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Newmont to earn $9.98 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 10.4%.
Newmont Trading Down 1.7%
Shares of NEM opened at $93.16 on Friday. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $99.45 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 1.13 and a beta of 0.46. The stock’s fifty day simple moving average is $99.93 and its 200 day simple moving average is $109.95. Newmont has a twelve month low of $61.76 and a twelve month high of $134.88.
Insider Activity at Newmont
In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total transaction of $277,140.00. Following the completion of the transaction, the executive vice president directly owned 43,315 shares of the company’s stock, valued at approximately $4,001,439.70. This trade represents a 6.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the sale, the chief executive officer owned 142,999 shares of the company’s stock, valued at $15,060,654.68. The trade was a 2.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 28,556 shares of company stock worth $3,058,146. 0.06% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Newmont
A number of hedge funds and other institutional investors have recently modified their holdings of NEM. Norges Bank purchased a new position in Newmont in the fourth quarter valued at about $1,443,128,000. Van ECK Associates Corp raised its position in shares of Newmont by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock valued at $2,973,539,000 after purchasing an additional 5,643,496 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Newmont by 110.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company’s stock worth $873,011,000 after buying an additional 4,588,018 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Newmont by 82.5% during the 4th quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company’s stock worth $739,117,000 after buying an additional 3,345,543 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of Newmont by 398.3% during the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock worth $286,619,000 after buying an additional 2,294,396 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.
About Newmont
Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.
Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.
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