Synovus Financial Corp Has $581,000 Stock Holdings in Newmont Co. (NYSE:NEM)

Synovus Financial Corp lowered its holdings in shares of Newmont Co. (NYSE:NEM) by 10.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,608 shares of the basic materials company’s stock after selling 1,861 shares during the period. Synovus Financial Corp’s holdings in Newmont were worth $581,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NEM. Sanctuary Advisors LLC increased its stake in shares of Newmont by 117.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after acquiring an additional 18,722 shares in the last quarter. Nordea Investment Management AB increased its stake in Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after purchasing an additional 1,578,545 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Newmont by 57.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after purchasing an additional 865,213 shares during the period. Brookstone Capital Management bought a new position in shares of Newmont during the 4th quarter worth about $245,000. Finally, Moody National Bank Trust Division grew its stake in shares of Newmont by 13.6% in the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock valued at $822,000 after buying an additional 2,645 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Performance

Shares of NEM opened at $55.08 on Friday. The stock has a 50 day moving average of $46.95 and a 200 day moving average of $45.13. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12 month low of $36.60 and a 12 month high of $58.72. The company has a market capitalization of $62.08 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. As a group, sell-side analysts forecast that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.82%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $128,670.00. Following the completion of the transaction, the executive vice president now owns 79,596 shares in the company, valued at $3,413,872.44. This trade represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the sale, the director now directly owns 49,993 shares in the company, valued at approximately $2,144,199.77. This trade represents a 3.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,154 shares of company stock worth $825,678. Insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. TD Securities dropped their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. UBS Group upgraded Newmont from a “neutral” rating to a “buy” rating and increased their target price for the stock from $50.00 to $60.00 in a report on Friday, April 11th. The Goldman Sachs Group assumed coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. National Bank Financial raised shares of Newmont to a “hold” rating in a research note on Friday, March 21st. Finally, Royal Bank of Canada boosted their target price on shares of Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average target price of $55.02.

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.