Newmont Unusual Options Activity For February 12
Portfolio Pulse from Benzinga Insights
Newmont (NYSE:NEM) has seen unusual options activity, with a bullish sentiment prevailing among financial giants. Analysis of options history revealed 9 unusual trades, with 55% bullish and 44% bearish. Significant trades include both calls and puts, aiming for a price range of $27.5 to $45.0. Newmont, the world's largest gold miner, recently acquired Newcrest, expecting to produce 7.3 million ounces of gold in 2023. Current stock price is $32.72, with analysts setting an average price target of $49.5.
February 12, 2024 | 6:16 pm
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Newmont's unusual options activity, with a bullish sentiment and a price target range of $27.5 to $45.0, indicates investor optimism. The company's recent acquisitions and expected gold production of 7.3 million ounces in 2023 further bolster its outlook. Analysts have set an average price target of $49.5, suggesting potential upside.
The bullish options activity, combined with Newmont's strategic acquisitions and production outlook, supports a positive short-term impact. Analysts' optimistic price targets further validate this perspective, suggesting a potential increase in NEM's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100