Looking Into Newmont's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Newmont's (NYSE:NEM) short interest has decreased by 12.18% since the last report, with 44.27 million shares sold short, representing 4.18% of available shares. The average time to cover these short positions is 2.49 days. While a decrease in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term price rise. Newmont has a higher short interest than its peer group average of 3.81%.
November 14, 2023 | 3:15 pm
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Newmont's short interest has decreased, which may suggest a more bullish sentiment among investors. However, this does not guarantee a rise in stock price in the short term.
A decrease in short interest typically indicates that investors are less bearish on the stock, which could lead to a potential increase in price as short positions are covered. However, the article suggests caution as this is not a definitive predictor of near-term price movement.
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