How Is The Market Feeling About Newmont?
Portfolio Pulse from Benzinga Insights
Newmont's (NYSE:NEM) short percent of float has risen 3.01% since its last report, with 24.02 million shares sold short, which is 3.42% of all regular shares available for trading. It would take traders 3.3 days to cover their short positions on average. The company has more short interest than most of its peers, with an average of 2.71%.
July 27, 2023 | 6:45 pm
News sentiment analysis
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Newmont's short percent of float has increased, indicating a bearish sentiment among traders. However, high short interest can sometimes be bullish.
An increase in short interest usually indicates a bearish sentiment among traders, as they expect the stock price to fall. However, a high short interest can sometimes lead to a short squeeze, which can drive the stock price up.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100