After Today’s Bearish Options Activity, Is Newmont Mining Corp’s Near-Term Analysis Positive?

 After Today's Bearish Options Activity, Is Newmont Mining Corp's Near Term Analysis Positive?

In today’s session Newmont Mining Corp (NEM) recorded an unusually high (468) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious NEM decrease. With 468 contracts traded and 25034 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: NEM170120P00036000 closed last at: $2.07 or 6.3% down. About 12.99 million shares traded hands or 86.37% up from the average. Newmont Mining Corp (NYSE:NEM) has risen 50.06% since March 1, 2016 and is uptrending. It has outperformed by 40.82% the S&P500.

Analysts await Newmont Mining Corp (NYSE:NEM) to report earnings on October, 26. They expect $0.54 EPS, up 134.78% or $0.31 from last year’s $0.23 per share. NEM’s profit will be $273.65M for 16.10 P/E if the $0.54 EPS becomes a reality. After $0.44 actual EPS reported by Newmont Mining Corp for the previous quarter, Wall Street now forecasts 22.73% EPS growth.

Newmont Mining Corp (NYSE:NEM) Ratings Coverage

Out of 19 analysts covering Newmont Mining Corporation (NYSE:NEM), 9 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 47% are positive. $44 is the highest target while $16 is the lowest. The $30.76 average target is -11.53% below today’s ($34.77) stock price. Newmont Mining Corporation has been the topic of 47 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was initiated by Morgan Stanley with “Equal-Weight” on Tuesday, August 9. The stock has “Mkt Perform” rating given by FBR Capital on Wednesday, July 20. The stock of Newmont Mining Corp (NYSE:NEM) earned “Sector Perform” rating by RBC Capital Markets on Thursday, January 7. The stock of Newmont Mining Corp (NYSE:NEM) has “Outperform” rating given on Tuesday, September 1 by Scotia Capital. The firm has “Buy” rating by Clarkson Capital given on Tuesday, February 16. The stock of Newmont Mining Corp (NYSE:NEM) has “Hold” rating given on Thursday, July 14 by Jefferies. RBC Capital Markets upgraded Newmont Mining Corp (NYSE:NEM) rating on Tuesday, April 26. RBC Capital Markets has “Outperform” rating and $40 price target. FBR Capital maintained it with “Mkt Perform” rating and $19 target price in Tuesday, November 3 report. As per Tuesday, December 1, the company rating was downgraded by Citigroup. The stock of Newmont Mining Corp (NYSE:NEM) has “Hold” rating given on Friday, March 18 by Standpoint Research.

Insitutional Activity: The institutional sentiment decreased to 0.85 in Q2 2016. Its down 0.08, from 0.93 in 2016Q1. The ratio worsened, as 93 funds sold all Newmont Mining Corp shares owned while 181 reduced positions. 82 funds bought stakes while 151 increased positions. They now own 361.11 million shares or 2.92% more from 350.86 million shares in 2016Q1.
Price T Rowe Associates Md reported 10.07M shares or 0.08% of all its holdings. Cheviot Value Management Ltd Liability Corp reported 254,036 shares or 5.94% of all its holdings. Platinum Investment Management Ltd has invested 0.1% of its portfolio in Newmont Mining Corp (NYSE:NEM). Tradewinds Cap Mngmt Ltd Liability Corp has 0.01% invested in the company for 201 shares. Fin Service Corp last reported 75 shares in the company. Nuveen Asset Mgmt Ltd Liability Company holds 34,361 shares or 0.01% of its portfolio. Canal Insurance Commerce accumulated 1.93% or 150,000 shares. Voya Inv Ltd Liability Co holds 0.04% or 380,142 shares in its portfolio. Indexiq Ltd Liability Corporation holds 0.05% or 19,908 shares in its portfolio. Gam Hldgs Ag has 1.72M shares for 1.04% of their US portfolio. Moreover, Amica Mutual Insur has 0.11% invested in Newmont Mining Corp (NYSE:NEM) for 29,182 shares. Daiwa Securities Inc has 0.02% invested in the company for 78,800 shares. Dekabank Deutsche Girozentrale accumulated 0.11% or 254,461 shares. Usa Portformulas holds 1.01% or 94,248 shares in its portfolio. Counselors reported 107,291 shares or 0.25% of all its holdings.

Insider Transactions: Since July 26, 2016, the stock had 0 buys, and 4 selling transactions for $1.34 million net activity. Lawson Scott P had sold 4,700 shares worth $189,627 on Tuesday, July 26. MacGowan William N had sold 8,135 shares worth $365,685. Shares for $370,148 were sold by Engel E Randall. Gottesfeld Stephen P sold $415,947 worth of stock or 10,000 shares.

Newmont Mining Corporation is a global mining company, which is focused on the production of and exploration for gold and copper. The company has a market cap of $17.62 billion. The Firm is primarily a gold producer with activities and/or assets in the United States, Australia, Peru, Indonesia, Ghana and Suriname. It has a 218.61 P/E ratio. The Company’s divisions are North America, South America, Asia Pacific and Africa.

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