Whales with a lot of money to spend have taken a noticeably bearish stance on Newmont.
Looking at options history for $Newmont (NEM.US)$ we detected 15 trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 46% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $370,211 and 10, calls, for a total amount of $1,056,238.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $42.5 for Newmont over the last 3 months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Newmont's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Newmont's significant trades, within a strike price range of $25.0 to $42.5, over the past month.
Newmont Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
NEM | CALL | TRADE | BULLISH | 09/20/24 | $2.5 | $2.47 | $2.51 | $40.00 | $502.0K | 12.8K | 2.9K |
NEM | PUT | SWEEP | BULLISH | 09/20/24 | $1.37 | $1.13 | $1.13 | $32.50 | $231.8K | 10.1K | 13 |
NEM | CALL | TRADE | BEARISH | 06/21/24 | $2.3 | $2.25 | $2.26 | $37.50 | $113.0K | 12.5K | 1.4K |
NEM | CALL | SWEEP | BEARISH | 01/17/25 | $4.85 | $4.75 | $4.75 | $37.50 | $91.2K | 5.6K | 204 |
NEM | CALL | TRADE | BEARISH | 05/10/24 | $4.05 | $3.75 | $3.8 | $34.00 | $76.0K | 6 | 400 |
About Newmont
Newmont is the world's largest gold miner. It bought Goldcorp in 2019, combined its Nevada mines in a joint venture with competitor Barrick later that year, and also purchased competitor Newcrest in November 2023. Its portfolio includes 17 wholly or majority owned mines and interests in two joint ventures in the Americas, Africa, Australia and Papua New Guinea. The company is expected to produce roughly 6.9 million ounces of gold in 2024. However, after buying Newcrest, Newmont is likely to sell a number of its higher cost, smaller mines accounting for 20% of forecast sales in 2024. Newmont also produces material amounts of copper, silver, zinc, and lead as byproducts. It had about two decades of gold reserves along with significant byproduct reserves at end December 2023.
In light of the recent options history for Newmont, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Newmont's Current Market Status
With a volume of 7,512,115, the price of NEM is up 0.83% at $37.77.
RSI indicators hint that the underlying stock may be approaching overbought.
Next earnings are expected to be released in 2 days.
What The Experts Say On Newmont
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $45.0.
Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Newmont with a target price of $45.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.