Bullish Options Activity on Newmont Mining Corp Surges After Better Fundamentals

 Bullish Options Activity on Newmont Mining Corp Surges After Better Fundamentals

In today’s session Newmont Mining Corp (NEM) registered an unusually high (1,323) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious NEM increase. With 1,323 contracts traded and 175584 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: NEM170120C00035000 closed last at: $3.15 or 6.8% up. About 2.35M shares traded hands. Newmont Mining Corp (NYSE:NEM) has risen 31.00% since March 14, 2016 and is uptrending. It has outperformed by 25.39% the S&P500.

Analysts await Newmont Mining Corp (NYSE:NEM) to report earnings on October, 26. They expect $0.54 earnings per share, up 134.78% or $0.31 from last year’s $0.23 per share. NEM’s profit will be $281.73M for 16.30 P/E if the $0.54 EPS becomes a reality. After $0.44 actual earnings per share 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. Newmont Mining Corporation has been the topic of 47 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock has “Mkt Perform” rating given by FBR Capital on Friday, September 18. The firm earned “Equal-Weight” rating on Monday, April 18 by Barclays Capital. Clarkson Platou downgraded the stock to “Neutral” rating in Monday, April 18 report. Citigroup downgraded Newmont Mining Corp (NYSE:NEM) on Tuesday, December 1 to “Neutral” rating. The stock of Newmont Mining Corp (NYSE:NEM) earned “Hold” rating by Jefferies on Thursday, July 14. Mackie upgraded the shares of NEM in a report on Thursday, October 29 to “Buy” rating. On Friday, November 6 the stock rating was maintained by RBC Capital Markets with “Outperform”. RBC Capital Markets downgraded Newmont Mining Corp (NYSE:NEM) on Thursday, January 7 to “Sector Perform” rating. The rating was initiated by Morgan Stanley on Tuesday, August 9 with “Equal-Weight”. The stock of Newmont Mining Corp (NYSE:NEM) earned “Outperform” rating by RBC Capital Markets on Tuesday, April 26.

According to Zacks Investment Research, “Newmont Mining Corp. is engaged in the production of gold, the exploration for gold and the acquisition and development of gold properties worldwide. The company produces gold from mines in Nevada and California, and, outside of the United States, from operations in Peru, Indonesia, Mexico and Uzbekistan.”

Insitutional Activity: The institutional sentiment decreased to 0.85 in 2016 Q2. Its down 0.08, from 0.93 in 2016Q1. The ratio is negative, 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.
The United Kingdom-based Artemis Inv Limited Liability Partnership has invested 0.35% in Newmont Mining Corp (NYSE:NEM). British Columbia Inv Mgmt Corporation accumulated 0.08% or 231,220 shares. Advantus Cap Incorporated has 51,601 shares for 0.06% of their US portfolio. Commonwealth National Bank Of Australia reported 571,685 shares or 0.26% of all its holdings. Susquehanna Group Limited Liability Partnership accumulated 157,900 shares or 0% of the stock. Fny Managed Accounts Lc holds 0% or 11,250 shares in its portfolio. Babson Ltd Liability Co holds 0.03% or 31,754 shares in its portfolio. Moreover, Savant Cap Ltd Liability Com has 0.09% invested in Newmont Mining Corp (NYSE:NEM) for 7,620 shares. Point72 Asset L P holds 0.01% or 22,000 shares in its portfolio. Moreover, Mirae Asset Global Invests Communication Ltd has 0.08% invested in Newmont Mining Corp (NYSE:NEM) for 82,047 shares. Qs Invsts Ltd Co owns 14,763 shares or 0% of their US portfolio. Central Asset Investments Management Hldgs (Hk) Ltd has 0.86% invested in the company for 22,100 shares. Orinda Asset Management Ltd accumulated 5,511 shares or 0.16% of the stock. Carroll Associate Inc last reported 2,248 shares in the company. Laffer Investments accumulated 0% or 1,109 shares.

Insider Transactions: Since July 26, 2016, the stock had 0 buys, and 4 selling transactions for $1.34 million net activity. $415,947 worth of shares were sold by Gottesfeld Stephen P on Wednesday, July 27. On Tuesday, July 26 the insider Lawson Scott P sold $189,627. The insider MacGowan William N sold $365,685. Engel E Randall sold 8,700 shares worth $370,148.

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 $18.37 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 224.74 P/E ratio. The Company’s divisions are North America, South America, Asia Pacific and Africa.

NEM Company Profile

Newmont Mining Corporation (Newmont), incorporated on December 06, 2001, is a global mining company, which is focused on the production of and exploration for gold and copper. The Firm is primarily a gold producer with activities and/or assets in the United States, Australia, Peru, Indonesia, Ghana and Suriname. The Company’s divisions are North America, South America, Asia Pacific and Africa. It has gold reserves of approximately 73.7 million ounces and an aggregate land position of approximately 20,000 square miles (over 52,000 square kilometers). It is also engaged in the production of copper, principally through Batu Hijau in Indonesia, Boddington in Australia and Phoenix in the United States. The Company’s North America segment consists primarily of Carlin, Phoenix and Twin Creeks in the state of Nevada, and Cripple Creek &Victor (CC&V) in the state of Colorado, in the United States. The Company’s South America segment consists primarily of Yanacocha in Peru. The Company’s Asia Pacific segment consists primarily of Boddington, Tanami and Kalgoorlie in Australia and Batu Hijau in Indonesia. The Company’s Africa segment consists primarily of Ahafo and Akyem in Ghana.

More news for Newmont Mining Corp (NYSE:NEM) were recently published by: Fool.com, which released: “Has Newmont Mining Corp. Earned a Clean Bill of Health?” on October 11, 2016. Fool.com‘s article titled: “Mining Gold Stocks: Is Newmont Mining More Precious Than Its Competition?” and published on September 23, 2016 is yet another important article.

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