Stock Traders Purchase Large Volume of Newmont Mining Corp. Put Options (NEM)
Shares of Newmont Mining Corp. (NYSE:NEM) was the target of some unusual options trading on Tuesday. Stock traders purchased 14,970 put options on the company, StockRatingsNetwork.com reports. This represents an increase of 110% compared to the average daily volume of 7,139 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, September 20th. 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 assigned a hold rating and four have issued a buy rating to the company. Newmont Mining Corp. presently has an average rating of “Hold” and an average price target of $41.90.
Shares of Newmont Mining Corp. (NYSE:NEM) traded down 3.17% during mid-day trading on Tuesday, hitting $27.21. 13,805,828 shares of the company’s stock traded hands. Newmont Mining Corp. has a 52 week low of $26.43 and a 52 week high of $56.64. The stock has a 50-day moving average of $30.29 and a 200-day moving average of $32.19. The company’s market cap is $13.541 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.
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