Newmont Co. (NYSE:NEM – Get Free Report) 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 2.30%. The ex-dividend date is Tuesday, June 4th.
Newmont has raised its dividend payment by an average of 15.4% per year over the last three years. Newmont has a payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance
NEM opened at $43.41 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.98. The company has a market capitalization of $50.04 billion, a price-to-earnings ratio of -18.24, a P/E/G ratio of 1.07 and a beta of 0.50. The firm’s fifty day moving average price is $35.35 and its two-hundred day moving average price is $36.92. Newmont has a 1 year low of $29.42 and a 1 year high of $50.18.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on NEM shares. Royal Bank of Canada cut their price target on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. Citigroup decreased their price target on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Jefferies Financial Group initiated coverage on Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target on the stock. Finally, StockNews.com cut Newmont from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.89.
Get Our Latest Stock Report on NEM
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.
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