Moody National Bank Trust Division has increased its position in Newmont Co. (NYSE:NEM) by 3.1% during the second quarter, according to a recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor now owns 30,505 shares of Newmont’s stock, worth $1,301,000, after acquiring an additional 923 shares during the period.
Moody National Bank Trust Division is not the only big investor making changes to its position in the company. Other notable investors include Compass Wealth Management LLC, Householder Group Estate & Retirement Specialist LLC, Sittner & Nelson LLC, Delta Asset Management LLC TN, and Caldwell Sutter Capital Inc. Together, institutional investors and hedge funds own 79.53% of the company’s stock.
In insider activity, CEO Thomas Ronald Palmer sold 11,000 shares of Newmont stock on July 3rd, valued at $471,350. This transaction reduced Palmer’s direct ownership to 278,039 shares of the company’s stock, valued at approximately $11,913,971.15. COO Robert D. Atkinson also sold 5,500 shares of Newmont stock on September 1st, with a total transaction value of $219,505. Following this sale, Atkinson now holds 76,251 shares in the company.
Newmont’s stock has been trading up 2.1%. The stock currently has a market cap of $32.06 billion, with a price-to-earnings ratio of -42.02. The company reported $0.33 EPS for the last quarter, missing analysts’ consensus estimates of $0.39 by $0.06. Newmont also recently announced a quarterly dividend of $0.40 per share, to be paid on September 21st.
Various research firms have provided their perspective on Newmont. Barclays upgraded the stock from an “equal weight” rating to an “overweight” rating, while Raymond James and CIBC lowered their target prices. Royal Bank of Canada reaffirmed a “sector perform” rating, and UBS Group reduced its price objective. Overall, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.
Newmont Corporation is a gold production and exploration company with operations and assets in several countries. In addition to gold, the company also explores for copper, silver, zinc, and lead.
Sources:
– SEC filing with Moody National Bank Trust Division
– SEC filing with the Securities & Exchange Commission
– MarketBeat data on Newmont Co.
– Newmont Corporation’s official website.