Whales with a lot of money to spend have taken a noticeably bearish stance on Newmont.
Looking at options history for Newmont NEM we detected 22 trades.
If we consider the specifics of each trade, it is accurate to state that 31% of the investors opened trades with bullish expectations and 68% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $102,300 and 20, calls, for a total amount of $2,023,989.
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 $60.0 for Newmont over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Newmont options trades today is 4825.67 with a total volume of 32,656.00.
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 $60.0 over the last 30 days.
Newmont 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NEM | CALL | TRADE | BEARISH | 01/17/25 | $2.55 | $2.5 | $2.51 | $60.00 | $200.7K | 22.3K | 7.7K |
| NEM | CALL | SWEEP | BEARISH | 01/17/25 | $2.53 | $2.5 | $2.5 | $60.00 | $200.0K | 22.3K | 2.8K |
| NEM | CALL | SWEEP | BEARISH | 01/17/25 | $2.49 | $2.45 | $2.46 | $60.00 | $196.9K | 22.3K | 3.6K |
| NEM | CALL | SWEEP | BEARISH | 01/17/25 | $2.48 | $2.45 | $2.46 | $60.00 | $194.3K | 22.3K | 3.6K |
| NEM | CALL | SWEEP | BEARISH | 01/17/25 | $2.5 | $2.45 | $2.45 | $60.00 | $193.1K | 22.3K | 5.2K |
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.
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.
Newmont's Current Market Status
- With a trading volume of 4,370,682, the price of NEM is up by 2.14%, reaching $55.65.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 30 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 $61.5.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Showing optimism, an analyst from Argus Research upgrades its rating to Buy with a revised price target of $58. * Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Newmont with a target price of $65.
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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