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

Key Points

• Newmont Corporation declared a quarterly dividend of $0.26 per share (ex‑dividend/record date May 27) payable June 22, implying an annualized $1.04 payout and a yield of about 0.9%.
• Newmont beat expectations with Q1 EPS of $2.90 versus $2.07 forecast and reported revenue of $7.31 billion, up 45.8% year‑over‑year and a net margin of 31.25%.
• Analysts give the stock a consensus "Moderate Buy" with an average price target of $139.81, while shares trade near $111 with a P/E of ~17.4 and a market cap of about $119.9 billion.

Newmont Corporation (NYSE:NEM - Get Free Report) declared a quarterly dividend on Thursday, April 23rd. Investors of record on Wednesday, May 27th will be given a dividend of 0.26 per share by the basic materials company on Monday, June 22nd. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, May 27th.

Newmont has decreased its dividend payment 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. Analysts expect Newmont to earn $9.97 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 Price Performance

Shares of NYSE NEM opened at $111.00 on Friday. The stock's 50-day moving average is $114.75 and its two-hundred day moving average is $104.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. The company has a market cap of $119.87 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 0.85 and a beta of 0.46. Newmont has a 1-year low of $48.27 and a 1-year high of $134.88.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping analysts' consensus estimates of $2.07 by $0.83. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. The business's quarterly revenue was up 45.8% compared to the same quarter last year. Analysts forecast that Newmont will post 8.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NEM shares. TD lowered their target price on shares of Newmont from $118.00 to $116.00 and set a "hold" rating for the company in a research note on Tuesday. National Bank Financial set a $130.00 price objective on Newmont and gave the stock a "sector perform" rating in a research report on Thursday, April 16th. Canaccord Genuity Group boosted their target price on Newmont from $140.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, April 17th. UBS Group lowered their price target on Newmont from $150.00 to $140.00 and set a "buy" rating for the company in a report on Friday, March 27th. Finally, Argus raised their price objective on shares of Newmont from $94.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $139.81.

Newmont Company Profile

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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