Market Whales and Their Recent Bets on NEM Options
Portfolio Pulse from Benzinga Insights
Market whales have shown a mixed sentiment towards Newmont (NYSE:NEM), with a bearish lean in recent options trading. Analysis of 15 trades reveals a split in expectations, with 40% bullish and 46% bearish. Significant trading activity targets a price range of $25.0 to $42.5 for NEM. The company, the world's largest gold miner, has made strategic acquisitions and is expected to sell some higher cost mines. Current market data shows NEM's price up 0.83% at $37.77, with potential overbought signals and an upcoming earnings release. Analysts, including one from Citigroup, maintain a positive outlook with a target price of $45.
April 23, 2024 | 6:45 pm
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Newmont's recent options trading shows a bearish tilt despite strategic acquisitions and a positive analyst outlook. The stock is up 0.83% at $37.77, with an earnings release imminent.
The mixed sentiment in options trading, combined with strategic acquisitions and analyst optimism, creates a complex short-term outlook for NEM. The upcoming earnings release adds to this uncertainty, making it difficult to predict the stock's short-term movement confidently. However, the overall positive analyst outlook and strategic growth initiatives could support the stock price in the near term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100