Financial giants have made a conspicuous bullish move on Newmont. Our analysis of options history for Newmont NEM revealed 18 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 38% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $150,330, and 15 were calls, valued at $2,950,639.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $32.5 to $60.0 for Newmont during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Newmont options trades today is 4896.33 with a total volume of 6,041.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Newmont's big money trades within a strike price range of $32.5 to $60.0 over the last 30 days.
Newmont Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NEM | CALL | SWEEP | BEARISH | 01/17/25 | $9.95 | $9.7 | $9.7 | $45.00 | $1.0M | 32.3K | 1.7K |
| NEM | CALL | SWEEP | BULLISH | 01/17/25 | $9.8 | $9.7 | $9.75 | $45.00 | $487.5K | 32.3K | 1.7K |
| NEM | CALL | SWEEP | BEARISH | 01/17/25 | $9.75 | $9.65 | $9.75 | $45.00 | $433.8K | 32.3K | 720 |
| NEM | CALL | SWEEP | BEARISH | 01/17/25 | $9.8 | $9.7 | $9.7 | $45.00 | $291.0K | 32.3K | 2.5K |
| NEM | CALL | SWEEP | BEARISH | 01/17/25 | $10.0 | $9.9 | $9.9 | $45.00 | $139.5K | 32.3K | 122 |
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
Newmont's Current Market Status
- Trading volume stands at 2,855,257, with NEM's price down by -0.79%, positioned at $53.28.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 38 days.
What The Experts Say On Newmont
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $58.5.
- In a positive move, an analyst from Argus Research has upgraded their rating to Buy and adjusted the price target to $58.
- An analyst from Scotiabank upgraded its action to Sector Outperform with a price target 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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