Decoding Newmont's Options Activity: What's the Big Picture?
Portfolio Pulse from Benzinga Insights
Significant bearish options activity has been detected for Newmont (NYSE:NEM), with a total of 12 unusual trades. The sentiment is 100% bearish, with puts and calls indicating a price target range of $31.0 to $42.5. Newmont, the world's largest gold miner, has recently acquired Newcrest, planning to sell higher cost mines. The stock is currently up 0.94% at $34.24, with an analyst from Scotiabank setting a target price of $43.
March 26, 2024 | 4:45 pm
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Bearish options activity detected for Newmont, with a price target range of $31.0 to $42.5. The company's recent acquisition of Newcrest and plans to sell higher cost mines could impact its stock price.
The bearish options activity, combined with strategic acquisitions and divestitures, suggests market anticipation of potential short-term volatility or downside risk for Newmont's stock. The unanimous bearish sentiment among significant investors, alongside the strategic moves by the company, such as the acquisition of Newcrest and the planned sale of higher cost mines, could lead to short-term price adjustments. The current market status and analyst ratings further support this view.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100