This Is What Whales Are Betting On Newmont
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Newmont (NYSE:NEM) by a large investor, as indicated by a large position in the company's publicly available options history. The overall sentiment of these big-money traders is split between 46% bullish and 53% bearish. The whales have been targeting a price range from $30.0 to $50.0 for Newmont over the last 3 months. Raymond James maintains an Outperform rating on Newmont with a price target of $61, while RBC Capital downgraded its action to Sector Perform with a price target of $52.
October 02, 2023 | 3:16 pm
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A large investor has taken a bearish stance on Newmont, with big-money traders sentiment split between 46% bullish and 53% bearish. The price target range is $30-$50.
The bearish stance taken by a large investor, as well as the split sentiment among big-money traders, indicates potential downward pressure on Newmont's stock price in the short term. The price target range of $30-$50 also suggests a potential downside from the current price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100