Financial giants have made a conspicuous bearish move on Newmont. Our analysis of options history for Newmont (NYSE:NEM) revealed 18 unusual trades.
Delving into the details, we found 22% of traders were bullish, while 72% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $133,660, and 15 were calls, valued at $906,538.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $57.5 for Newmont over the last 3 months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Newmont's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Newmont's whale activity within a strike price range from $30.0 to $57.5 in the last 30 days.
Newmont Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NEM | CALL | SWEEP | BEARISH | 09/20/24 | $23.4 | $21.9 | $22.16 | $30.00 | $323.3K | 961 | 146 |
| NEM | CALL | SWEEP | BEARISH | 01/16/26 | $22.25 | $21.05 | $21.05 | $32.50 | $134.7K | 3.7K | 64 |
| NEM | PUT | TRADE | BULLISH | 01/16/26 | $11.25 | $10.65 | $10.75 | $57.50 | $53.7K | 877 | 50 |
| NEM | PUT | SWEEP | BULLISH | 09/20/24 | $1.01 | $0.97 | $0.97 | $50.00 | $53.3K | 8.9K | 613 |
| NEM | CALL | SWEEP | BEARISH | 11/15/24 | $9.15 | $9.1 | $9.1 | $42.50 | $45.5K | 1.1K | 50 |
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 the end of December 2023.
Present Market Standing of Newmont
- Trading volume stands at 6,421,404, with NEM's price down by -3.06%, positioned at $50.34.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 48 days.
What Analysts Are Saying About Newmont
2 market experts have recently issued ratings for this stock, with a consensus target price of $58.5.
- Showing optimism, an analyst from Argus Research upgrades its rating to Buy with a revised price target of $58.
- An analyst from Scotiabank has elevated its stance to Sector Outperform, setting a new price target at $59.
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.