Newmont Mining Corp (NYSE:NEM) declared a quarterly dividend on Tuesday, February 20th, RTT News reports. Shareholders of record on Thursday, March 8th will be given a dividend of 0.14 per share by the basic materials company on Thursday, March 22nd. This represents a $0.56 annualized dividend and a yield of 1.47%. The ex-dividend date is Wednesday, March 7th. This is an increase from Newmont Mining’s previous quarterly dividend of $0.08.
Newmont Mining has raised its dividend payment by an average of 3.6% per year over the last three years and has increased its dividend every year for the last 2 years. Newmont Mining has a dividend payout ratio of 20.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Newmont Mining to earn $1.54 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 19.5%.
Newmont Mining (NYSE:NEM) traded down $0.03 during trading hours on Wednesday, reaching $38.19. 3,480,019 shares of the company’s stock traded hands, compared to its average volume of 6,170,000. The stock has a market cap of $20,370.00, a P/E ratio of 31.83 and a beta of 0.29. Newmont Mining has a 52-week low of $31.42 and a 52-week high of $42.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.63 and a quick ratio of 3.14.
In related news, EVP E Randall Engel sold 5,700 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $40.23, for a total value of $229,311.00. Following the sale, the executive vice president now directly owns 239,700 shares of the company’s stock, valued at $9,643,131. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen P. Gottesfeld sold 5,000 shares of Newmont Mining stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $37.91, for a total transaction of $189,550.00. The disclosure for this sale can be found here. Insiders sold 32,700 shares of company stock worth $1,242,786 over the last three months. Corporate insiders own 0.32% of the company’s stock.
A number of brokerages have recently commented on NEM. TheStreet downgraded shares of Newmont Mining from a “b-” rating to a “c+” rating in a report on Monday. Royal Bank of Canada reiterated a “hold” rating and set a $43.00 price target on shares of Newmont Mining in a report on Tuesday, December 5th. Scotiabank set a $48.00 price target on shares of Newmont Mining and gave the stock a “buy” rating in a report on Monday, January 15th. BMO Capital Markets reiterated a “buy” rating and set a $43.00 price target on shares of Newmont Mining in a report on Wednesday, December 20th. Finally, Zacks Investment Research downgraded shares of Newmont Mining from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $42.57.
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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