Whales with a lot of money to spend have taken a noticeably bullish stance on Newmont.
Looking at options history for Newmont NEM we detected 16 trades.
If we consider the specifics of each trade, it is accurate to state that 62% of the investors opened trades with bullish expectations and 37% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $234,354 and 11, calls, for a total amount of $777,132.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $35.0 to $50.0 for Newmont over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Newmont options trades today is 4182.0 with a total volume of 8,598.00.
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 $35.0 to $50.0 over the last 30 days.
Newmont Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NEM | CALL | SWEEP | BULLISH | 01/17/25 | $50.00 | $193.2K | 10.6K | 513 |
| NEM | CALL | SWEEP | BEARISH | 03/15/24 | $42.50 | $101.0K | 5.6K | 993 |
| NEM | PUT | SWEEP | BULLISH | 03/15/24 | $42.50 | $100.9K | 1.6K | 425 |
| NEM | CALL | SWEEP | BEARISH | 01/17/25 | $50.00 | $80.0K | 10.6K | 358 |
| NEM | CALL | TRADE | BULLISH | 01/17/25 | $50.00 | $70.7K | 10.6K | 1.5K |
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.
In light of the recent options history for Newmont, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Newmont Standing Right Now?
- With a trading volume of 6,388,861, the price of NEM is up by 1.72%, reaching $41.8.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 65 days from now.
What Analysts Are Saying About Newmont
2 market experts have recently issued ratings for this stock, with a consensus target price of $42.5.
- An analyst from Macquarie downgraded its action to Outperform with a price target of $45.
- Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Newmont with a target price of $40.
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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