KBC Group NV Buys 18,940 Shares of Newmont Corporation $NEM

Key Points

• KBC Group NV increased its stake in Newmont by 8.8%, adding 18,940 shares to hold 235,271 shares valued at about $23.49 million at the end of the quarter.
• Newmont beat estimates with EPS of $2.52 (consensus $1.81) and revenue of $6.82 billion (up 20.6% year‑over‑year), and raised its quarterly dividend to $0.26 per share.
• Multiple analysts raised ratings and price targets on NEM (average analyst target ~$133.38), reflecting growing Wall Street optimism about the stock.

KBC Group NV increased its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 235,271 shares of the basic materials company's stock after acquiring an additional 18,940 shares during the quarter. KBC Group NV's holdings in Newmont were worth $23,492,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NEM. Brighton Jones LLC boosted its stake in Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after acquiring an additional 1,847 shares in the last quarter. Woodline Partners LP boosted its stake in Newmont by 40.7% during the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company's stock worth $4,644,000 after acquiring an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Newmont during the second quarter worth $240,000. Cerity Partners LLC boosted its stake in Newmont by 108.9% during the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company's stock worth $7,303,000 after acquiring an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Newmont by 8.5% during the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company's stock worth $2,854,000 after acquiring an additional 3,856 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Stock Up 2.7%

Newmont stock opened at $116.50 on Friday. Newmont Corporation has a 1-year low of $48.27 and a 1-year high of $134.88. The firm has a market capitalization of $125.81 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 0.87 and a beta of 0.46. The firm's fifty day moving average price is $115.51 and its two-hundred day moving average price is $103.72. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same period last year, the firm earned $1.40 earnings per share. The business's quarterly revenue was up 20.6% compared to the same quarter last year. On average, equities research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, March 3rd. This is an increase from Newmont's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont's payout ratio is 16.28%.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total transaction of $339,270.00. Following the transaction, the executive vice president directly owned 52,315 shares of the company's stock, valued at $5,916,303.35. This trade represents a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David James Fry sold 18,394 shares of the firm's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the transaction, the insider directly owned 17,147 shares in the company, valued at $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,394 shares of company stock worth $2,713,281 over the last three months. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NEM shares. Bank of America increased their target price on shares of Newmont from $134.00 to $151.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. Sanford C. Bernstein raised shares of Newmont from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $121.00 to $157.00 in a research note on Friday, February 27th. Citigroup raised their price objective on shares of Newmont from $118.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, March 3rd. DZ Bank raised shares of Newmont to a "strong-buy" rating in a research note on Monday, January 19th. Finally, Macquarie Infrastructure raised their price objective on shares of Newmont from $126.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, March 27th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $133.38.

Newmont Profile

Newmont Corporation NYSE: NEM is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company's core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

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