Financial giants have made a conspicuous bullish move on Newmont. Our analysis of options history for Newmont NEM revealed 23 unusual trades.
Delving into the details, we found 47% of traders were bullish, while 43% showed bearish tendencies. Out of all the trades we spotted, 11 were puts, with a value of $612,695, and 12 were calls, valued at $1,529,913.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $35.0 to $57.5 for Newmont over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Newmont stands at 5687.0, with a total volume reaching 23,592.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Newmont, situated within the strike price corridor from $35.0 to $57.5, throughout the last 30 days.
Newmont Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NEM | CALL | SWEEP | NEUTRAL | 09/20/24 | $9.2 | $8.65 | $9.0 | $40.00 | $270.0K | 12.1K | 307 |
| NEM | CALL | SWEEP | BULLISH | 09/20/24 | $9.0 | $8.95 | $9.0 | $40.00 | $245.7K | 12.1K | 809 |
| NEM | CALL | SWEEP | NEUTRAL | 09/20/24 | $9.05 | $9.0 | $9.0 | $40.00 | $202.5K | 12.1K | 507 |
| NEM | CALL | SWEEP | BULLISH | 03/21/25 | $7.45 | $7.35 | $7.45 | $45.00 | $145.2K | 44 | 1 |
| NEM | CALL | SWEEP | BULLISH | 06/20/25 | $9.75 | $9.65 | $9.75 | $42.50 | $122.8K | 1.5K | 127 |
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 6.9 million ounces of gold in 2024. However, after buying Newcrest, Newmont is likely to sell a number of its higher cost, smaller mines accounting for 20% of forecast sales in 2024. Newmont also produces material amounts of copper, silver, zinc, and lead as byproducts. It had about two decades of gold reserves along with significant byproduct reserves at the end of December 2023.
Having examined the options trading patterns of Newmont, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Newmont Standing Right Now?
- With a volume of 2,022,990, the price of NEM is down -0.73% at $48.66.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 71 days.
Expert Opinions on Newmont
In the last month, 1 experts released ratings on this stock with an average target price of $57.0.
- An analyst from BMO Capital persists with their Outperform rating on Newmont, maintaining a target price of $57.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Newmont with Benzinga Pro for real-time alerts.
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