Check Out What Whales Are Doing With NEM
Portfolio Pulse from Benzinga Insights
Whale investors have shown a bearish stance on Newmont (NYSE:NEM), with a significant portion of options trades indicating expectations of a price movement between $30.0 and $45.0. Analysis of options trading volume and open interest suggests a bearish sentiment, with more puts than calls traded. Newmont, the world's largest gold miner, has seen its stock price decrease by -2.6%, currently at $33.52. Analyst ratings in the last month have an average target price of $52.5, with mixed opinions on the stock's future performance.
February 05, 2024 | 5:00 pm
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Whale investors' bearish stance and significant options trading suggest a potential short-term price decrease. However, analyst ratings with an average target price of $52.5 provide a mixed outlook.
The bearish sentiment from whale investors, indicated by the higher volume of puts and the expected price band, suggests a short-term negative impact on NEM's stock price. However, the mixed analyst ratings, including a downgrade to Hold and a continued Outperform rating, introduce uncertainty to the stock's short-term performance. The recent price decrease and the oversold RSI indicators further complicate the outlook, making it challenging to predict the stock's immediate direction confidently.
CONFIDENCE 75
IMPORTANCE 85
RELEVANCE 100