Newmont Mining Corp (NYSE:NEM) declared a quarterly dividend on Tuesday, February 20th, RTT News reports. Investors 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 dividend yield of 1.43%. This is a boost from Newmont Mining’s previous quarterly dividend of $0.08.
Newmont Mining has raised its dividend by an average of 3.6% annually over the last three years and has raised its dividend every year for the last 2 years. Newmont Mining has a payout ratio of 20.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Newmont Mining to earn $1.35 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 22.2%.
Newmont Mining (NYSE NEM) opened at $39.11 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.18 and a quick ratio of 3.58. Newmont Mining has a 12-month low of $31.42 and a 12-month high of $42.04. The stock has a market capitalization of $20,858.79, a price-to-earnings ratio of 260.73 and a beta of 0.24.
Several research firms recently issued reports on NEM. FBR & Co set a $40.00 target price on Newmont Mining and gave the company a “hold” rating in a research report on Tuesday, October 31st. Royal Bank of Canada reissued a “hold” rating and issued a $43.00 target price on shares of Newmont Mining in a research report on Tuesday, December 5th. Scotiabank set a $48.00 target price on Newmont Mining and gave the company a “buy” rating in a research report on Monday, January 15th. BMO Capital Markets reissued a “buy” rating and issued a $43.00 target price on shares of Newmont Mining in a research report on Wednesday, December 20th. Finally, Zacks Investment Research downgraded Newmont Mining from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $41.80.
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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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