Newmont Mining Corp Sees Unusually Large Options Volume (NEM)
Shares of Newmont Mining Corp (NYSE:NEM) were the target of unusually large options trading on Monday. Stock traders bought 10,278 put options on the company, American Banking News.com reports. This represents an increase of 233% compared to the typical daily volume of 3,082 put options.
NEM has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Newmont Mining Corp from an “underperform” rating to a “neutral” rating in a research note on Monday, May 26th. They now have a $25.00 price target on the stock. Separately, analysts at TD Securities raised their price target on shares of Newmont Mining Corp from $24.00 to $26.00 in a research note on Monday, April 28th. Finally, analysts at CIBC upgraded shares of Newmont Mining Corp to a “sector perform” rating in a research note on Monday, April 28th. They now have a $33.00 price target on the stock, up previously from $27.00. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $28.01.
Shares of Newmont Mining Corp (NYSE:NEM) traded up 0.99% on Monday, hitting $25.44. The stock had a trading volume of 6,524,056 shares. Newmont Mining Corp has a 52-week low of $20.79 and a 52-week high of $34.27. The stock’s 50-day moving average is $23.67 and its 200-day moving average is $23.8. The company’s market cap is $12.683 billion.
Newmont Mining Corp (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.19 by $0.03. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the company posted $0.71 earnings per share. Newmont Mining Corp’s revenue was down 19.4% compared to the same quarter last year. Analysts expect that Newmont Mining Corp will post $0.86 EPS for the current fiscal year.
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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