Newmont Co. (NYSE:NEM) Announces Quarterly Dividend of $0.55

Newmont Co. (NYSE:NEM) announced a quarterly dividend on Wednesday, July 21st, RTT News reports. Investors of record on Thursday, September 9th will be given a dividend of 0.55 per share by the basic materials company on Thursday, September 23rd. This represents a $2.20 annualized dividend and a yield of 3.64%.

Newmont has increased its dividend by 316.0% over the last three years and has increased its dividend every year for the last 1 years.

NEM stock opened at $60.44 on Wednesday. The stock has a market cap of $48.42 billion, a P/E ratio of 18.95 and a beta of 0.28. Newmont has a 12-month low of $54.18 and a 12-month high of $75.31. The company has a current ratio of 2.40, a quick ratio of 2.12 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average of $67.52.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 29th. The basic materials company reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). Newmont had a return on equity of 10.18% and a net margin of 21.77%. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $3.08 billion. As a group, analysts expect that Newmont will post 3.43 EPS for the current fiscal year.

In other news, EVP Stephen P. Gottesfeld sold 4,000 shares of the stock in a transaction dated Wednesday, July 14th. The shares were sold at an average price of $64.31, for a total transaction of $257,240.00. Following the transaction, the executive vice president now owns 101,140 shares of the company’s stock, valued at $6,504,313.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen P. Gottesfeld sold 13,240 shares of the stock in a transaction dated Friday, April 23rd. The stock was sold at an average price of $66.45, for a total transaction of $879,798.00. Following the sale, the executive vice president now owns 126,380 shares in the company, valued at approximately $8,397,951. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 108,784 shares of company stock valued at $5,783,791. Company insiders own 0.12% of the company’s stock.

NEM has been the subject of a number of analyst reports. Jefferies Financial Group increased their price objective on Newmont from $53.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, May 17th. JPMorgan Chase & Co. reduced their target price on Newmont from $83.00 to $75.00 in a research report on Tuesday, April 27th. Zacks Investment Research cut Newmont from a “hold” rating to a “sell” rating and set a $71.00 target price for the company. in a report on Monday, May 10th. Raymond James raised their price target on Newmont from $78.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, June 9th. Finally, Argus lifted their price objective on Newmont from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, May 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $73.00.

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, and Ghana. As of December 31, 2020, it had proven and probable gold reserves of 94.2 million ounces and land position of 58,900 square kilometers.

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Dividend History for Newmont (NYSE:NEM)

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