Stock Traders Purchase High Volume of Put Options on Newmont Mining Corp. (NEM)
Newmont Mining Corp. (NYSE:NEM) saw unusually large options trading activity on Friday. Investors acquired 18,623 put options on the company, ARN reports. This represents an increase of 197% compared to the average daily volume of 6,271 put options.
A number of analysts have recently weighed in on NEM shares. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of Newmont Mining Corp. (NYSE:NEM) in a research note to investors on Friday. They set a “neutral” rating on the stock. Separately, analysts at Barclays Capital downgraded shares of Newmont Mining Corp. (NYSE:NEM) from an “overweight” rating to an “equal weight” rating in a research note to investors on Thursday, September 5th. They now have a $36.00 price target on the stock, down previously from $42.00. Finally, analysts at Zacks upgraded shares of Newmont Mining Corp. (NYSE:NEM) from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, August 21st. They now have a $34.00 price target on the stock.
Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. Newmont Mining Corp. has an average rating of “Hold” and a consensus target price of $41.90.
Newmont Mining Corp. (NYSE:NEM) opened at 28.49 on Monday. Newmont Mining Corp. has a 1-year low of $26.43 and a 1-year high of $56.85. The stock’s 50-day moving average is $30.40 and its 200-day moving average is $32.86. The company’s market cap is $14.178 billion.
Newmont Mining Corporation is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Indonesia, Ghana, New Zealand and Mexico.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.