Financial giants have made a conspicuous bullish move on Newmont. Our analysis of options history for Newmont NEM revealed 9 unusual trades.
Delving into the details, we found 55% of traders were bullish, while 44% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $209,331, and 6 were calls, valued at $360,043.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $27.5 to $45.0 for Newmont over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Newmont's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Newmont's whale activity within a strike price range from $27.5 to $45.0 in the last 30 days.
Newmont 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NEM | CALL | SWEEP | BULLISH | 09/20/24 | $27.50 | $171.5K | 1.4K | 258 |
| NEM | PUT | SWEEP | BEARISH | 01/17/25 | $40.00 | $121.9K | 4.6K | 141 |
| NEM | CALL | TRADE | BULLISH | 01/16/26 | $32.50 | $65.0K | 818 | 100 |
| NEM | PUT | SWEEP | BEARISH | 01/17/25 | $40.00 | $48.6K | 4.6K | 196 |
| NEM | PUT | SWEEP | BEARISH | 01/17/25 | $45.00 | $38.6K | 5.8K | 31 |
About Newmont
Newmont is the world's largest gold miner. It bought Goldcorp in 2019, combined its Nevada mines in a joint venture with competitor Barrick later that year, and also purchased competitor Newcrest in November 2023. Its portfolio includes 17 wholly or majority owned mines and interests in two joint ventures in the Americas, Africa, Australia and Papua New Guinea. The company is expected to produce roughly 7.3 million ounces of gold in 2023 pro forma for Newcrest on an annualized basis. Newmont also produces material amounts of copper, silver, zinc, and lead as byproducts from its various gold mines. It had about two decades of gold reserves along with significant byproduct reserves after acquiring Newcrest.
After a thorough review of the options trading surrounding Newmont, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Newmont Standing Right Now?
- With a trading volume of 5,031,185, the price of NEM is down by -0.21%, reaching $32.72.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 10 days from now.
What The Experts Say On Newmont
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $49.5.
- Consistent in their evaluation, an analyst from RBC Capital keeps a Sector Perform rating on Newmont with a target price of $40.
- Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on Newmont with a target price of $59.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Newmont options trades with real-time alerts from Benzinga Pro.
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