Newmont Corporation (NYSE:NEM) Announces $0.26 Quarterly Dividend

Key Points

• Newmont declared a quarterly dividend of $0.26 per share, payable on September 28 to shareholders of record on September 3. The dividend implies an annualized yield of about 1.1%.
• The company’s latest quarterly results beat EPS expectations, reporting $2.10 per share versus the $2.05 estimate, though revenue of $6.12 billion came in below forecasts. Newmont also posted strong profitability, with a 33.87% net margin and 27.84% return on equity.
• Newmont stock fell 0.9% to $93.88 in trading, after recently ranging between a $61.76 low and $134.88 high over the past year. Analysts still expect the company to earn $8.9 per share this year, and its dividend appears well covered by earnings.

Newmont Corporation (NYSE:NEM - Get Free Report) declared a quarterly dividend on Thursday, July 23rd. Shareholders of record on Thursday, September 3rd will be given a dividend of 0.26 per share by the basic materials company on Monday, September 28th. This represents a c) annualized dividend and a yield of 1.1%. The ex-dividend date 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 dividend payout ratio of 23.0% meaning 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 0.9%

NEM stock traded down $0.84 during mid-day trading on Friday, reaching $93.88. 4,930,165 shares of the stock traded hands, compared to its average volume of 9,205,698. Newmont has a one year low of $61.76 and a one year high of $134.88. The stock has a market capitalization of $100.22 billion, a PE ratio of 12.17, a PEG ratio of 1.14 and a beta of 0.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The business has a 50-day moving average price of $100.25 and a two-hundred day moving average price of $110.06.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.36 billion. During the same quarter last year, the business earned $1.43 EPS. Equities research analysts expect that Newmont will post 8.9 EPS for the current year.

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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