Newmont Corporation (NYSE:NEM) Announces Quarterly Dividend of $0.25

Newmont Corporation (NYSE:NEM) announced a quarterly dividend on Thursday, July 24th, Wall Street Journal reports. Investors of record on Thursday, September 4th will be given a dividend of 0.25 per share by the basic materials company on Monday, September 29th. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 4th.

Newmont has a dividend payout ratio of 22.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Newmont to earn $3.80 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 26.3%.

Newmont Price Performance

NEM opened at $74.48 on Tuesday. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. Newmont has a 12 month low of $36.86 and a 12 month high of $74.52. The company has a fifty day simple moving average of $64.21 and a 200 day simple moving average of $55.27. The stock has a market cap of $81.81 billion, a P/E ratio of 13.37, a P/E/G ratio of 0.88 and a beta of 0.33.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The company’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. On average, research analysts expect that Newmont will post 3.45 EPS for the current year.

Insider Activity

In other news, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the sale, the chief accounting officer directly owned 32,615 shares in the company, valued at approximately $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $132,221.82. Following the completion of the sale, the director owned 41,026 shares of the company’s stock, valued at approximately $2,611,715.16. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,169 shares of company stock worth $1,098,636. Corporate insiders own 0.05% of the company’s stock.

Institutional Trading of Newmont

Several institutional investors have recently modified their holdings of the business. Hemington Wealth Management grew its stake in shares of Newmont by 17.6% in the second quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock worth $66,000 after purchasing an additional 170 shares during the last quarter. IVC Wealth Advisors LLC lifted its holdings in Newmont by 1.3% in the second quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock valued at $813,000 after buying an additional 173 shares during the period. L2 Asset Management LLC lifted its holdings in Newmont by 3.6% in the second quarter. L2 Asset Management LLC now owns 4,987 shares of the basic materials company’s stock valued at $291,000 after buying an additional 174 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Newmont by 11.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after buying an additional 185 shares during the period. Finally, Aaron Wealth Advisors LLC lifted its holdings in Newmont by 4.4% in the second quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock valued at $260,000 after buying an additional 190 shares during the period. Institutional investors own 68.85% of the company’s stock.

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.