Newmont Corporation (NYSE:NEM) Plans $0.25 Quarterly Dividend

Key Points

• Newmont Corporation has declared a quarterly dividend of $0.25 per share, set to be paid on December 22, with an ex-dividend date of November 26.
• The company's current dividend payout ratio is 22.1%, and it is expected to maintain a healthy coverage of its $1.00 annual dividend based on projected earnings.
• Recent earnings reports showed Newmont exceeding analysts' estimates with EPS of $1.71 and revenues of $5.52 billion, marking a 20% increase compared to the same quarter last year.

Newmont Corporation (NYSE:NEM - Get Free Report) declared a quarterly dividend on Thursday, October 23rd. Investors of record on Wednesday, November 26th will be given a dividend of 0.25 per share by the basic materials company on Monday, December 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, November 26th.

Newmont has a dividend payout ratio of 22.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Newmont to earn $3.80 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 26.3%.

Newmont Price Performance

Shares of NEM opened at $88.93 on Friday. Newmont has a twelve month low of $36.86 and a twelve month high of $98.58. The stock's 50 day moving average is $80.89 and its two-hundred day moving average is $65.15. The firm has a market capitalization of $97.69 billion, a PE ratio of 15.97, a P/E/G ratio of 0.59 and a beta of 0.34. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the company earned $0.81 EPS. The firm's revenue for the quarter was up 20.0% compared to the same quarter last year. Research analysts anticipate that Newmont will post 3.45 earnings per share for the current year.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the executive vice president owned 58,736 shares in the company, valued at approximately $3,739,133.76. This represents a 4.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the sale, the chief accounting officer owned 32,615 shares in the company, valued at approximately $2,218,472.30. This trade represents a 17.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Newmont

Several large investors have recently made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after acquiring an additional 1,847 shares during the period. GAMMA Investing LLC increased its stake in shares of Newmont by 22.2% during the first quarter. GAMMA Investing LLC now owns 21,146 shares of the basic materials company's stock valued at $1,021,000 after acquiring an additional 3,840 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Newmont during the first quarter valued at approximately $423,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of Newmont by 39.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 184,416 shares of the basic materials company's stock valued at $8,904,000 after acquiring an additional 52,433 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new position in Newmont in the first quarter worth approximately $202,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.

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