Newmont Co. Sees Increase in Institutional Ownership and Insider Selling

Moody National Bank Trust Division, an institutional investor, has increased its position in Newmont Co. by 3.1% during the second quarter, according to the company’s recent disclosure with the Securities and Exchange Commission (SEC). The bank now owns 30,505 shares of Newmont’s stock, with a total value of $1,301,000. Other large investors have also made changes to their positions in the company. Compass Wealth Management acquired a new stake in Newmont, while Householder Group Estate & Retirement Specialist, Sittner & Nelson LLC, Delta Asset Management LLC TN, and Caldwell Sutter Capital Inc. purchased new stakes as well.

In terms of insider activity, CEO Thomas Ronald Palmer recently sold 11,000 shares of Newmont stock, while COO Robert D. Atkinson sold 5,500 shares. This selling activity has been disclosed in legal filings with the SEC. Despite these insider sales, the company’s stock has seen a trading increase of 2.1%.

Newmont Co. is a basic materials company listed on the NYSE under the ticker symbol NEM. The company has a market cap of $32.06 billion and a debt-to-equity ratio of 0.31. Its stock has a 52-week low of $37.45 and a 52-week high of $60.08. Newmont last announced its quarterly earnings results, posting $0.33 EPS for the quarter, lower than analysts’ consensus estimates.

Newmont has also recently announced a quarterly dividend, which will be paid to shareholders on September 21st. Shareholders of record on September 7th will receive a dividend of $0.40 per share. This represents an annualized dividend of $1.60 and a yield of 3.97%.

Wall Street analysts have weighed in on Newmont’s stock, with a consensus target price of $58.00. Several research firms have given the stock a rating of “Moderate Buy” or “Buy”. However, some firms have lowered their price targets for the company.

Newmont Corporation engages in the production and exploration of gold, as well as other minerals such as copper, silver, zinc, and lead. The company has operations and assets in various countries around the world, including the United States, Canada, Mexico, Peru, Australia, and Ghana. As of December 31, 2022, Newmont had proven and probable gold reserves of 96.1 million ounces.

– Moody National Bank Trust Division
– SEC website
– MarketBeat
– Newmont Corporation