Smart Money Is Betting Big In NEM Options
Portfolio Pulse from Benzinga Insights
Smart money investors have shown a mixed but notably bullish interest in Newmont (NYSE:NEM) options, with an equal split between bullish and bearish trades. The significant trading activity suggests a target price range of $27.5 to $37.5 for Newmont. The company, being the world's largest gold miner, has recently acquired Newcrest, indicating a strategic move to optimize its portfolio. Current stock performance shows a slight increase, with expert analysts setting an average target price of $46.5.
March 04, 2024 | 3:47 pm
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Newmont's strategic acquisitions and bullish options activity indicate potential for stock price growth, with analysts setting a high target price.
The bullish sentiment in options trading, combined with strategic acquisitions like Newcrest, positions Newmont for potential growth. Analysts' high target prices further support this outlook, suggesting a positive short-term impact on NEM's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100