Newmont Unusual Options Activity For September 27
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Newmont (NYSE:NEM) as evidenced by unusual options activity. The overall sentiment of these big-money traders is split between 33% bullish and 66% bearish. The price of NEM is down -4.82% at $37.5. RBC Capital downgraded its action to Sector Perform with a price target of $52, Raymond James maintained their Outperform rating with a price target of $61, and UBS maintained their Neutral rating with a price target of $42.
September 27, 2023 | 5:16 pm
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NEGATIVE IMPACT
Unusual options activity indicates a significant bearish stance on Newmont. The stock price is down -4.82% at $37.5. Analysts have mixed ratings with price targets ranging from $42 to $61.
The unusual options activity, with a significant bearish stance, indicates that traders expect the price of Newmont to decrease. This, combined with the current downward trend in the stock price, suggests a negative short-term impact. However, the mixed analyst ratings indicate some uncertainty in the market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100