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 9 trades.
If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 33% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $152,945 and 7, calls, for a total amount of $590,820.
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 $40.0 to $52.5 for Newmont during the past quarter.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Newmont's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Newmont's significant trades, within a strike price range of $40.0 to $52.5, over the past month.
Newmont Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NEM | CALL | TRADE | NEUTRAL | 12/20/24 | $1.69 | $1.57 | $1.62 | $52.50 | $332.1K | 187 | 6 |
| NEM | PUT | SWEEP | BULLISH | 12/20/24 | $9.15 | $9.05 | $9.05 | $52.50 | $118.5K | 2 | 6 |
| NEM | CALL | SWEEP | BEARISH | 07/26/24 | $1.21 | $1.02 | $1.21 | $45.00 | $60.3K | 388 | 34 |
| NEM | CALL | SWEEP | BEARISH | 08/16/24 | $1.73 | $1.68 | $1.68 | $45.00 | $50.4K | 5.5K | 191 |
| NEM | CALL | SWEEP | BULLISH | 01/17/25 | $4.5 | $4.35 | $4.5 | $45.00 | $49.5K | 48.6K | 101 |
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 trading volume of 4,017,972, the price of NEM is up by 1.87%, reaching $44.26.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 19 days from now.
What Analysts Are Saying About Newmont
In the last month, 2 experts released ratings on this stock with an average target price of $50.0.
- In a positive move, an analyst from UBS has upgraded their rating to Buy and adjusted the price target to $50.
- Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Newmont with a target price of $50.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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