Newmont Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have shown unusual options activity in Newmont (NYSE:NEM), with a bearish sentiment prevailing despite some bullish positions. The activity involves significant trades in both calls and puts, aiming for a price range of $30.0 to $42.5 over the next three months. Newmont, the world's largest gold miner, has recently acquired Newcrest and is expected to sell some higher cost mines. The stock is slightly up with a potential overbought RSI, and earnings are anticipated in 21 days.
April 04, 2024 | 1:47 pm
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Newmont has seen unusual options activity indicating mixed investor sentiment. The company's recent acquisitions and potential for selling higher cost mines could influence its stock price. With an upcoming earnings release, investors should watch for volatility.
The unusual options activity, with a mix of bearish and bullish sentiments, suggests uncertainty about Newmont's short-term price direction. The recent acquisitions and potential for selling higher cost mines add complexity to its financial outlook. The upcoming earnings release could be a pivotal moment for the stock, potentially causing volatility. However, the mixed sentiment among investors makes it challenging to predict a clear short-term price direction.
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