Financial giants have made a conspicuous bearish move on Newmont ( NEM ). Our analysis of options history for Newmont ( NEM ) revealed 23 unusual trades.

Delving into the details, we found 39% of traders were bullish, while 47% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $570,360, and 20 were calls, valued at $858,091.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $70.0 for Newmont ( NEM ) during the past quarter.

Insights into 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 ( NEM ) 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 ( NEM ) whale activity within a strike price range from $30.0 to $70.0 in the last 30 days.

Newmont Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About Newmont

Newmont ( NEM ) 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 5.5 million ounces of gold in 2024 from its core mines and 6.8 million in total. It is likely to sell a number of its higher cost, smaller mines accounting for 20% of forecast sales in 2024. Newmont ( NEM ) 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.

After a thorough review of the options trading surrounding Newmont ( NEM ), we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Newmont's Current Market Status

With a volume of 5,326,332, the price of NEM is up 0.3% at $45.01.

RSI indicators hint that the underlying stock may be overbought.

Next earnings are expected to be released in 13 days.

Expert Opinions on Newmont

In the last month, 1 experts released ratings on this stock with an average target price of $50.0.

Unusual Options Activity Detected: Smart Money on the Move

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* Consistent in their evaluation, an analyst from Scotiabank keeps a Sector Perform rating on Newmont ( NEM ) with a target price of $50.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Newmont ( NEM ) with Benzinga Pro for real-time alerts.