Moody National Bank Trust Division Raises Stock Position in Newmont Co. (NYSE:NEM)

Moody National Bank Trust Division grew its holdings in Newmont Co. (NYSE:NEM) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,079 shares of the basic materials company’s stock after acquiring an additional 2,645 shares during the period. Moody National Bank Trust Division’s holdings in Newmont were worth $822,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. increased its holdings in Newmont by 3.7% in the 2nd quarter. American Century Companies Inc. now owns 854,837 shares of the basic materials company’s stock valued at $35,792,000 after acquiring an additional 30,685 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Newmont by 129.6% in the second quarter. Envestnet Asset Management Inc. now owns 544,178 shares of the basic materials company’s stock worth $22,785,000 after buying an additional 307,212 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Newmont by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,912,922 shares of the basic materials company’s stock valued at $289,445,000 after buying an additional 545,903 shares during the last quarter. Citizens Financial Group Inc. RI grew its holdings in Newmont by 12.9% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 12,829 shares of the basic materials company’s stock valued at $537,000 after buying an additional 1,467 shares in the last quarter. Finally, Terril Brothers Inc. increased its stake in Newmont by 7.2% in the 2nd quarter. Terril Brothers Inc. now owns 778,847 shares of the basic materials company’s stock worth $32,610,000 after acquiring an additional 52,371 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the transaction, the director now directly owns 52,070 shares in the company, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harry M. Iv Conger acquired 9,498 shares of Newmont stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average cost of $42.15 per share, with a total value of $400,340.70. Following the purchase, the director now directly owns 14,498 shares of the company’s stock, valued at $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 14,077 shares of company stock worth $563,080. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NEM. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Jefferies Financial Group lifted their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. The Goldman Sachs Group assumed coverage on shares of Newmont in a research report on Monday. They set a “buy” rating and a $47.20 target price on the stock. CLSA initiated coverage on Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. Finally, Royal Bank of Canada decreased their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average price target of $53.80.

Newmont Trading Up 2.6 %

NEM stock opened at $40.19 on Wednesday. Newmont Co. has a 12 month low of $29.42 and a 12 month high of $58.72. The firm’s 50-day moving average is $40.49 and its 200 day moving average is $46.90. The company has a market capitalization of $45.75 billion, a PE ratio of -26.44, a P/E/G ratio of 0.35 and a beta of 0.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same period last year, the business posted $0.36 earnings per share. The business’s revenue was up 84.7% compared to the same quarter last year. On average, research analysts anticipate that Newmont Co. will post 3.08 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Wednesday, November 27th. Newmont’s dividend payout ratio is -65.79%.

Newmont Profile

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.