Newmont Co. (NEM) To Go Ex-Dividend on June 4th

Newmont Co. (NYSE:NEM) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Tuesday, June 4th will be given a dividend of 0.25 per share by the basic materials company on Thursday, June 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Tuesday, June 4th.

Newmont has increased its dividend payment by an average of 15.4% per year over the last three years. Newmont has a payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Newmont to earn $3.26 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 30.7%.

Newmont Stock Performance

Shares of Newmont stock opened at $42.73 on Friday. Newmont has a 52-week low of $29.42 and a 52-week high of $50.18. The company has a fifty day moving average of $35.54 and a 200-day moving average of $36.95. The company has a quick ratio of 0.98, a current ratio of 2.15 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the company earned $0.40 EPS. The firm’s revenue was up 50.2% on a year-over-year basis. Equities analysts forecast that Newmont will post 2.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NEM shares. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. TD Securities upped their price target on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a report on Friday. BMO Capital Markets lowered their price target on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Citigroup lowered their price target on shares of Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, April 4th. Finally, Argus lowered shares of Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $51.75.

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.