89,598 Shares in Newmont Co. (NYSE:NEM) Bought by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP bought a new stake in shares of Newmont Co. (NYSE:NEM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 89,598 shares of the basic materials company's stock, valued at approximately $3,335,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. HighPoint Advisor Group LLC increased its position in Newmont by 3.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock worth $223,000 after buying an additional 219 shares during the period. Confluence Investment Management LLC grew its position in shares of Newmont by 2.4% during the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company's stock worth $439,000 after acquiring an additional 281 shares during the last quarter. Keel Point LLC increased its holdings in shares of Newmont by 2.0% in the 4th quarter. Keel Point LLC now owns 14,774 shares of the basic materials company's stock valued at $550,000 after acquiring an additional 287 shares during the period. Howard Capital Management Inc. boosted its stake in Newmont by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 5,653 shares of the basic materials company's stock worth $210,000 after purchasing an additional 292 shares during the period. Finally, Intact Investment Management Inc. grew its position in Newmont by 21.4% during the 4th quarter. Intact Investment Management Inc. now owns 1,700 shares of the basic materials company's stock worth $63,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

NEM has been the subject of several recent research reports. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Raymond James reaffirmed an "outperform" rating and set a $66.00 price objective on shares of Newmont in a research report on Friday, April 25th. StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. Royal Bank of Canada lifted their price objective on shares of Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a research report on Friday, April 4th. Finally, UBS Group upgraded shares of Newmont from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $55.63.

Insider Activity at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $386,010.00. Following the transaction, the chief operating officer now owns 136,967 shares in the company, valued at approximately $5,874,514.63. This trade represents a 6.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the sale, the director now owns 47,916 shares of the company's stock, valued at $2,094,408.36. This represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,154 shares of company stock worth $825,678. 0.05% of the stock is currently owned by insiders.

Newmont Price Performance

NYSE:NEM traded up $0.01 during trading hours on Friday, reaching $51.50. 8,802,796 shares of the company traded hands, compared to its average volume of 9,852,541. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a market cap of $57.32 billion, a P/E ratio of 17.58, a P/E/G ratio of 0.41 and a beta of 0.30. Newmont Co. has a 1-year low of $36.86 and a 1-year high of $58.72. The firm's 50-day moving average is $48.59 and its 200-day moving average is $45.04.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. The business had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same period in the previous year, the firm posted $0.55 earnings per share. Equities research analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Tuesday, May 27th. Newmont's dividend payout ratio (DPR) is 22.42%.

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.