Newmont Mining Corp (NYSE:NEM) declared a quarterly dividend on Tuesday, October 24th, RTT News reports. Shareholders of record on Friday, December 8th will be given a dividend of 0.075 per share by the basic materials company on Thursday, December 28th. This represents a $0.30 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Thursday, December 7th.
Newmont Mining has decreased its dividend payment by an average of 53.3% per year over the last three years. Newmont Mining has a payout ratio of 20.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Newmont Mining to earn $1.27 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 23.6%.
Newmont Mining (NEM) opened at $36.20 on Wednesday. Newmont Mining has a 52 week low of $30.40 and a 52 week high of $39.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.58 and a current ratio of 4.18. The company has a market capitalization of $19,648.12, a price-to-earnings ratio of 26.50 and a beta of 0.10.
In related news, EVP E Randall Engel sold 5,700 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $36.44, for a total transaction of $207,708.00. Following the sale, the executive vice president now owns 122,178 shares of the company’s stock, valued at approximately $4,452,166.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Elaine J. Dorward-King sold 10,250 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $38.27, for a total value of $392,267.50. Following the sale, the executive vice president now directly owns 82,114 shares in the company, valued at approximately $3,142,502.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,700 shares of company stock worth $1,038,458. Company insiders own 0.32% of the company’s stock.
A number of equities analysts have commented on NEM shares. Royal Bank Of Canada set a $41.00 price objective on Newmont Mining and gave the stock a “hold” rating in a research note on Monday, August 28th. B. Riley restated a “neutral” rating on shares of Newmont Mining in a research note on Wednesday, November 1st. Zacks Investment Research upgraded Newmont Mining from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Wednesday, October 18th. BidaskClub downgraded Newmont Mining from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Finally, BMO Capital Markets set a $40.00 target price on Newmont Mining and gave the company a “buy” rating in a report on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $42.74.
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Newmont Mining Company Profile
Newmont Mining Corporation is a mining company, which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.
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