Streetbeat News

NEM

Newmont Corporation

https://www.newmont.com

Industry

Gold

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers. The company was founded in 1916 and is headquartered in Denver, Colorado.

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Recent unusual options activity for Newmont (NYSE:NEM) shows a bearish sentiment among big-money investors, with 50% of trades being bearish. The options activity suggests a price range of $30.0 to $57.5 for NEM. Analysts have given positive ratings with target prices around $58.0.

Portfolio Pulse from Benzinga Insights

August 23, 2024 | 4:32 pm

Gold prices have reached an all-time high, driven by potential Federal Reserve interest rate cuts, geopolitical risks, and increased demand from central banks and consumers. Gold mining stocks and related ETFs have also seen significant gains.

Portfolio Pulse from Navdeep Yadav

August 20, 2024 | 11:00 am

Deep-pocketed investors are showing a bullish sentiment towards Newmont (NYSE:NEM) with significant options trading activity. The options activity includes 29 extraordinary trades, with a mix of bullish and bearish sentiments. Analysts have set an average price target of $58.0, with recent upgrades from Scotiabank and BMO Capital. Newmont's stock is currently trading at $51.19, up by 1.94%.

Portfolio Pulse from Benzinga Insights

August 19, 2024 | 7:45 pm

Newmont (NYSE:NEM) has been analyzed by 7 analysts, showing a range of ratings from bullish to bearish. The average 12-month price target has increased by 12.96% to $54.14. Analysts have raised their ratings and price targets, reflecting positive sentiment. Newmont's financials show strong profitability and growth, but high debt levels pose challenges.

Portfolio Pulse from Benzinga Insights

August 19, 2024 | 1:00 pm

Scotiabank has upgraded Newmont (NYSE:NEM) from Sector Perform to Sector Outperform and raised the price target from $48 to $59.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 12:10 pm

Gold mining companies are increasing M&A activity due to high gold prices, which boost their free cash flow. Gold Fields plans to acquire Osisko Mining for $1.57 billion, and Newmont is selling several mines to pay down debt. The VanEck Gold Miners ETF rose 3.08% amid record gold prices. Copper is also becoming a significant focus for gold miners.

Portfolio Pulse from Matt Whittaker

August 16, 2024 | 7:44 pm

Gold prices hit an all-time high of $2,500 per ounce due to a weakening U.S. dollar and declining Treasury yields. This surge is driven by expectations of Federal Reserve rate cuts. Gold ETFs, including SPDR Gold Trust (GLD), saw strong inflows in July. Gold mining stocks, such as those in the VanEck Gold Miners ETF (GDX), also performed well.

Portfolio Pulse from Piero Cingari

August 16, 2024 | 2:59 pm

Financial giants have made significant bullish moves on Newmont (NYSE:NEM) options, with 23 unusual trades identified. The trades include 11 puts valued at $612,695 and 12 calls valued at $1,529,913. The price target for NEM ranges from $35.0 to $57.5. Currently, NEM is trading at $48.66, down 0.73%, with RSI indicators suggesting it may be overbought. An analyst from BMO Capital maintains an Outperform rating with a target price of $57.

Portfolio Pulse from Benzinga Insights

August 14, 2024 | 4:15 pm

Barrick Gold Corp. (NYSE:GOLD) CEO Mark Bristow attributes high gold prices to geopolitical instability rather than inflation. Despite strong financial performance in Q2, Bristow believes the market undervalues Barrick's gold and copper assets. The company's shares have risen following the announcement, with analysts raising price targets. Barrick's joint venture with Newmont Corporation (NYSE:NEM) and its expanding copper business are highlighted as key assets.

Portfolio Pulse from Matt Whittaker

August 13, 2024 | 6:59 pm

Recent options trading trends for Newmont (NYSE:NEM) show a bearish sentiment among major investors, with 66% of trades being bearish. The stock is currently trading at $48.32, up by 1.28%, and has an average price target of $57.0 from analysts. The company is expected to produce 6.9 million ounces of gold in 2024, but may sell higher cost, smaller mines after acquiring Newcrest.

Portfolio Pulse from Benzinga Insights

August 12, 2024 | 2:30 pm

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