Newmont Corporation (NYSE:NEM – Get Free Report) declared a quarterly dividend on Thursday, October 22nd. Shareholders of record on Wednesday, November 25th will be paid a dividend of $0.26 per share by the basic materials company on Monday, December 21st. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, November 25th.
Newmont has a payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Newmont to earn $9.88 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 10.5%.
Newmont Stock Down 1.6%
NEM stock opened at $112.33 on Friday. Newmont has a one year low of $76.05 and a one year high of $135.29. The firm has a market cap of $118.36 billion, a PE ratio of 14.14, a PEG ratio of 2.17 and a beta of 0.51. The firm’s 50 day moving average price is $122.05 and its 200-day moving average price is $111.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55.
Newmont (NYSE:NEM – Get Free Report) last posted its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.26. The company had revenue of $6.36 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.71 earnings per share. On average, equities research analysts anticipate that Newmont will post 9.04 EPS for the current year.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Barclays reduced their price objective on shares of Newmont from $124.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday. Royal Bank Of Canada increased their target price on shares of Newmont from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. BMO Capital Markets upped their price objective on shares of Newmont from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, September 29th. Jefferies Financial Group dropped their target price on shares of Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a report on Monday, July 6th. Finally, BNP Paribas Exane decreased their price target on Newmont from $111.00 to $102.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.06.
Read Our Latest Analysis on NEM
Newmont Company Profile
Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.
Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.
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