Peering Into Newmont's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Newmont's (NYSE:NEM) short percent of float has risen 12.2% since its last report, with 22.61 million shares sold short, which is 3.22% of all regular shares available for trading. It would take traders 2.94 days to cover their short positions on average. The company's short interest is less than its peer group average of 3.43%.
July 10, 2023 | 5:45 pm
News sentiment analysis
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Newmont's short interest has increased, indicating a bearish sentiment among traders. However, its short interest is still less than its peer group average.
An increase in short interest indicates that more traders are betting that the stock's price will fall. This can create a bearish sentiment around the stock, potentially leading to a decrease in its price. However, Newmont's short interest is still less than its peer group average, which could mitigate some of the potential downward pressure.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100