How Is The Market Feeling About Newmont?
Portfolio Pulse from Benzinga Insights
Newmont (NYSE:NEM) has seen a 31.1% decrease in short interest since its last report, with 30.58 million shares sold short, representing 2.88% of its float. The average time to cover these short positions is 1.23 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Newmont's short interest is below its peer group average of 3.02%. Short interest is a key indicator of market sentiment and changes in short interest can have implications for a stock's performance.
November 30, 2023 | 3:00 pm
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Newmont's short interest has significantly decreased, which may suggest a more bullish sentiment among investors and could potentially lead to a short-term increase in the stock price.
A decrease in short interest typically indicates that investors are less bearish on the stock, which could lead to a reduction in selling pressure and potentially result in a price increase. However, short interest is just one of many factors that can affect stock prices, and there is no guarantee that the stock will rise in the near term solely based on this metric.
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