Moody National Bank Trust Division has boosted its position in Newmont Co. 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 the company’s stock, which is valued at approximately $1,301,000. This represents a 3.1% increase in ownership.
Other large investors have also made changes to their positions in Newmont. For instance, Compass Wealth Management LLC acquired a new stake in the company during the fourth quarter, while Householder Group Estate & Retirement Specialist LLC purchased shares in the first quarter. Sittner & Nelson LLC and Delta Asset Management LLC also raised their positions in the company during the first and fourth quarter respectively. Through these investments, institutional investors and hedge funds now own 79.53% of Newmont’s stock.
In other news, CEO Thomas Ronald Palmer sold 11,000 shares of Newmont stock in July, and COO Robert D. Atkinson sold 5,500 shares in September. These insider sales were reported in filings with the SEC.
Newmont’s stock has recently been trading up by 2.1%. The company has a market capitalization of $32.06 billion and a debt-to-equity ratio of 0.31. Its 52-week low and high are $37.45 and $60.08 respectively. Despite a decline in revenue and lower than expected earnings per share in the latest quarter, equities research analysts forecast that Newmont will post 2.04 earnings per share for the current fiscal year.
Newmont has also announced a quarterly dividend for shareholders, which will be paid in September. The dividend payout ratio is currently negative due to the company’s recent financial performance.
Wall Street analysts have weighed in on Newmont, with several firms providing ratings and price targets for the stock. Barclays upgraded its rating for Newmont from “equal weight” to “overweight” and lowered its price target from $62.00 to $61.00. Raymond James also decreased its price target and reiterated an “outperform” rating for the stock. CIBC, Royal Bank of Canada, and UBS Group have also provided ratings and lowered their price targets for Newmont.
Newmont Corporation engages in the production and exploration of gold, as well as other metals such as copper, silver, zinc, and lead. The company operates in various countries including the United States, Canada, Mexico, Peru, Argentina, Australia, and Ghana. As of December 31, 2022, it had proven and probable gold reserves of 96.1 million ounces.
Sources:
– SEC filings
– MarketBeat
– Newmont Corporation