Newmont Mining Corp. Target of Unusually High Options Trading (NEM)
Newmont Mining Corp. (NYSE:NEM) was the target of some unusual options trading on Friday. Investors purchased 15,427 put options on the stock, American Banking News.com reports. This represents an increase of approximately 114% compared to the average daily volume of 7,214 put options.
NEM has been the subject of a number of recent research reports. Analysts at RBC Capital downgraded shares of Newmont Mining Corp. from a “sector perform” rating to an “underperform” rating in a research note to investors on Friday. Separately, analysts at Barclays cut their price target on shares of Newmont Mining Corp. from $35.00 to $29.00 in a research note to investors on Friday, January 17th. They now have an “equal weight” rating on the stock. Finally, analysts at Bank of America Corp. downgraded shares of Newmont Mining Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday, January 9th. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $37.58.
Shares of Newmont Mining Corp. (NYSE:NEM) traded down 10.37% during mid-day trading on Friday, hitting $21.60. 35,119,472 shares of the company’s stock traded hands. Newmont Mining Corp. has a 1-year low of $22.34 and a 1-year high of $45.82. The stock’s 50-day moving average is $23.71 and its 200-day moving average is $27.12. The company’s market cap is $10.754 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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