Synovus Financial Corp Boosts Stock Holdings in Newmont Goldcorp Corp (NYSE:NEM)

Synovus Financial Corp grew its position in shares of Newmont Goldcorp Corp (NYSE:NEM) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,952 shares of the basic materials company’s stock after purchasing an additional 366 shares during the quarter. Synovus Financial Corp’s holdings in Newmont Goldcorp were worth $489,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. IFM Investors Pty Ltd increased its holdings in shares of Newmont Goldcorp by 52.1% during the 3rd quarter. IFM Investors Pty Ltd now owns 87,047 shares of the basic materials company’s stock valued at $3,301,000 after purchasing an additional 29,815 shares in the last quarter. Atlas Capital Advisors LLC increased its holdings in Newmont Goldcorp by 22.8% in the 3rd quarter. Atlas Capital Advisors LLC now owns 8,935 shares of the basic materials company’s stock worth $339,000 after acquiring an additional 1,656 shares in the last quarter. Wealthstreet Investment Advisors LLC increased its holdings in Newmont Goldcorp by 74.2% in the 3rd quarter. Wealthstreet Investment Advisors LLC now owns 29,043 shares of the basic materials company’s stock worth $1,128,000 after acquiring an additional 12,375 shares in the last quarter. Wetherby Asset Management Inc. increased its holdings in Newmont Goldcorp by 53.4% in the 3rd quarter. Wetherby Asset Management Inc. now owns 19,701 shares of the basic materials company’s stock worth $747,000 after acquiring an additional 6,855 shares in the last quarter. Finally, CAPROCK Group Inc. increased its holdings in Newmont Goldcorp by 9.6% in the 3rd quarter. CAPROCK Group Inc. now owns 10,535 shares of the basic materials company’s stock worth $399,000 after acquiring an additional 926 shares in the last quarter. 80.05% of the stock is owned by hedge funds and other institutional investors.

NEM traded down $0.32 on Friday, hitting $36.61. 8,408,080 shares of the company’s stock were exchanged, compared to its average volume of 9,493,327. Newmont Goldcorp Corp has a fifty-two week low of $29.77 and a fifty-two week high of $41.23. The company has a current ratio of 2.18, a quick ratio of 1.38 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $38.57 and a 200-day moving average price of $36.82. The stock has a market cap of $30.79 billion, a price-to-earnings ratio of 27.12 and a beta of -0.05.

Newmont Goldcorp (NYSE:NEM) last announced its earnings results on Tuesday, November 5th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). Newmont Goldcorp had a return on equity of 4.71% and a net margin of 25.42%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period last year, the firm earned $0.33 EPS. The company’s revenue for the quarter was up 57.2% compared to the same quarter last year. On average, equities analysts predict that Newmont Goldcorp Corp will post 1.32 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.14 per share. The ex-dividend date is Wednesday, December 4th. This represents a $0.56 annualized dividend and a yield of 1.53%. Newmont Goldcorp’s dividend payout ratio (DPR) is presently 41.48%.

NEM has been the subject of several recent analyst reports. Kepler Capital Markets reissued a “sell” rating and issued a $43.00 price target on shares of Newmont Goldcorp in a report on Thursday, October 31st. Royal Bank of Canada raised shares of Newmont Goldcorp from an “underperform” rating to a “sector perform” rating and set a $45.00 price target for the company in a report on Monday, September 9th. Macquarie initiated coverage on shares of Newmont Goldcorp in a report on Thursday, September 12th. They issued a “neutral” rating for the company. BMO Capital Markets raised shares of Newmont Goldcorp from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $45.00 to $50.00 in a report on Wednesday, September 11th. Finally, Baader Bank reissued a “neutral” rating and issued a $52.33 price target on shares of Newmont Goldcorp in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $45.96.

In other news, EVP E Randall Engel sold 3,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $38.65, for a total transaction of $135,275.00. Following the transaction, the executive vice president now owns 308,719 shares of the company’s stock, valued at approximately $11,931,989.35. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Nancy Lipson sold 5,055 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $40.35, for a total transaction of $203,969.25. Following the transaction, the executive vice president now directly owns 22,770 shares in the company, valued at approximately $918,769.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,805 shares of company stock worth $1,811,632. 0.44% of the stock is currently owned by corporate insiders.

Newmont Goldcorp Profile

Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of December 31, 2018, the company had proven and probable gold reserves of 65.4 million ounces and an aggregate land position of approximately 24,000 square miles.

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Institutional Ownership by Quarter for Newmont Goldcorp (NYSE:NEM)

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