Looking At Newmont's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant investor has taken a bearish stance on Newmont (NYSE:NEM), with 70% of recent trades being bearish. The majority of these trades are puts, totaling $1,637,855, compared to calls totaling $205,385. The targeted price range for Newmont over the last 3 months has been $37.5 to $42.5. Despite this, Argus Research and TD Securities have maintained their Buy ratings on Newmont, with price targets of $50 and $55 respectively.
August 22, 2023 | 4:31 pm
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Bearish options activity has been observed for Newmont (NYSE:NEM), with a targeted price range of $37.5 to $42.5. However, Argus Research and TD Securities maintain Buy ratings with price targets of $50 and $55 respectively.
The bearish options activity indicates that investors are expecting the price of Newmont to decrease. However, the Buy ratings from Argus Research and TD Securities suggest that they believe the stock is undervalued and has potential for growth. This conflicting information may lead to volatility in the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100