Moody National Bank Trust Division Trims Holdings in Newmont Co. (NYSE:NEM)

Moody National Bank Trust Division reduced its stake in shares of Newmont Co. (NYSE:NEM) by 5.2% in the 2nd quarter, Holdings Channel reports. The fund owned 17,099 shares of the basic materials company’s stock after selling 945 shares during the period. Moody National Bank Trust Division’s holdings in Newmont were worth $716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of NEM. Meeder Advisory Services Inc. raised its position in Newmont by 3.8% in the first quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company’s stock valued at $271,000 after purchasing an additional 278 shares during the period. Berkeley Capital Partners LLC boosted its position in shares of Newmont by 5.6% in the 4th quarter. Berkeley Capital Partners LLC now owns 5,960 shares of the basic materials company’s stock valued at $247,000 after purchasing an additional 318 shares during the period. Crestmont Private Wealth LLC raised its stake in Newmont by 4.9% during the 1st quarter. Crestmont Private Wealth LLC now owns 6,852 shares of the basic materials company’s stock valued at $246,000 after acquiring an additional 319 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Newmont by 0.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 98,992 shares of the basic materials company’s stock worth $3,547,000 after buying an additional 338 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its stake in shares of Newmont by 4.4% during the 1st quarter. J.W. Cole Advisors Inc. now owns 8,134 shares of the basic materials company’s stock worth $292,000 after buying an additional 346 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In related news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $42.13, for a total transaction of $547,690.00. Following the transaction, the chief executive officer now directly owns 331,469 shares in the company, valued at $13,964,788.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Scotiabank increased their target price on Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. BMO Capital Markets boosted their price objective on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and upped their price target for the company from $46.00 to $61.00 in a report on Wednesday, July 10th. Finally, Bank of America lifted their price target on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

Newmont Stock Performance

Shares of NYSE NEM traded down $1.46 during trading hours on Monday, hitting $47.05. 11,505,410 shares of the company’s stock were exchanged, compared to its average volume of 11,249,009. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $50.72. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The stock has a market capitalization of $53.99 billion, a price-to-earnings ratio of -17.73, a PEG ratio of 0.37 and a beta of 0.47. The company’s 50-day moving average price is $43.95 and its 200-day moving average price is $39.19.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same period in the previous year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. On average, sell-side analysts expect that Newmont Co. will post 2.76 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 annualized dividend and a yield of 2.13%. Newmont’s dividend payout ratio is -37.45%.

About Newmont

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.