Decoding Newmont's Options Activity: What's the Big Picture?
Portfolio Pulse from Benzinga Insights
Newmont (NYSE:NEM) has seen significant options activity indicating a bullish sentiment among investors, with 62% of trades being bullish and 37% bearish. The options trades suggest a target price range of $37.5 to $42.5 for Newmont over the last 3 months. Notable trades include both calls and puts with varying sentiments and expiration dates. Newmont, the world's largest gold miner, recently acquired Newcrest and is expected to produce 7.3 million ounces of gold in 2023. The stock price is currently down at $38.67 with potential overbought signals. An analyst from Macquarie has set a price target of $45 with an Outperform rating.
December 11, 2023 | 6:46 pm
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Newmont has experienced bullish options activity, with a target price range of $37.5 to $42.5. The company's recent acquisition of Newcrest and expected gold production are key factors, alongside an analyst's Outperform rating with a $45 target.
The bullish options activity, combined with the recent acquisition of Newcrest and the positive outlook from analysts, suggests a potential increase in Newmont's stock price in the short term. The company's production expectations and the analyst's price target further support this sentiment.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100