Newmont Corporation (NEM) To Go Ex-Dividend on March 3rd

Newmont Corporation (NYSE:NEM) declared a quarterly dividend on Thursday, February 19th. Shareholders of record on Tuesday, March 3rd will be paid a dividend of 0.26 per share by the basic materials company on Thursday, March 26th. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, March 3rd. This is a 4.0% increase from Newmont’s previous quarterly dividend of $0.25.

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. Equities analysts expect Newmont to earn $3.80 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 27.4%.

Newmont Stock Performance

Newmont stock opened at $130.03 on Friday. The stock’s 50 day simple moving average is $115.77 and its two-hundred day simple moving average is $95.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29. The stock has a market cap of $141.45 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.11 and a beta of 0.40. Newmont has a fifty-two week low of $41.23 and a fifty-two week high of $134.88.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, beating the consensus estimate of $1.81 by $0.71. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.18 billion. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The company’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 earnings per share. As a group, analysts expect that Newmont will post 3.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on NEM. Jefferies Financial Group upped their price objective on shares of Newmont from $136.00 to $158.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Citigroup reiterated a “buy” rating on shares of Newmont in a research note on Monday, January 12th. Bank of America boosted their target price on Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a report on Thursday. Scotiabank increased their target price on Newmont from $114.00 to $152.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Finally, BNP Paribas Exane lifted their price target on Newmont from $97.00 to $123.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.73.

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.