What’s Newmont Mining Corp Upside After Today’s Bullish Options Activity?

 What's Newmont Mining Corp Upside After Today's Bullish Options Activity?

In today’s session Newmont Mining Corp (NEM) registered an unusually high (279) 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 279 contracts traded and 15604 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: NEM170120C00043000 closed last at: $1.24 or 12.1% down. About 2.70M shares traded hands. Newmont Mining Corp (NYSE:NEM) has risen 38.46% since April 5, 2016 and is uptrending. It has outperformed by 36.51% the S&P500.

Newmont Mining Corp (NYSE:NEM) Ratings Coverage

Out of 20 analysts covering Newmont Mining Corporation (NYSE:NEM), 11 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 55% are positive. Newmont Mining Corporation has been the topic of 50 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock of Newmont Mining Corp (NYSE:NEM) earned “Buy” rating by Citigroup on Tuesday, August 2. FBR Capital initiated the shares of NEM in a report on Friday, September 18 with “Mkt Perform” rating. The rating was downgraded by Jefferies to “Hold” on Thursday, June 2. The firm has “Outperform” rating given on Monday, August 31 by Howard Weil. The rating was upgraded by Zacks on Tuesday, September 22 to “Hold”. On Thursday, January 7 the stock rating was downgraded by RBC Capital Markets to “Sector Perform”. The stock of Newmont Mining Corp (NYSE:NEM) earned “Outperform” rating by BMO Capital Markets on Thursday, August 13. Clarkson Capital initiated the shares of NEM in a report on Tuesday, February 16 with “Buy” rating. Barclays Capital upgraded the shares of NEM in a report on Monday, October 17 to “Overweight” rating. As per Monday, April 18, the company rating was maintained by Barclays Capital.

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 Q2 2016. Its down 0.08, from 0.93 in 2016Q1. The ratio dived, 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.
Dorsey Wright & Associate accumulated 136,970 shares or 2.85% of the stock. Glg Ltd Liability Corp, a New York-based fund reported 28,405 shares. Apg Asset Mngmt Nv holds 0.47% of its portfolio in Newmont Mining Corp (NYSE:NEM) for 6.32 million shares. D E Shaw & Incorporated holds 0.23% of its portfolio in Newmont Mining Corp (NYSE:NEM) for 3.21 million shares. Guggenheim Limited Co reported 1.57M shares or 0.19% of all its holdings. Private Advisor Grp Limited Liability Corp last reported 0.02% of its portfolio in the stock. Turner Invests Lp accumulated 0.32% or 26,390 shares. Parkwood Limited Liability Corporation has 23,479 shares for 0.15% of their US portfolio. Delta Lloyd Nv holds 0.05% of its portfolio in Newmont Mining Corp (NYSE:NEM) for 37,948 shares. Tahithromos Limited reported 105,000 shares or 5.5% of all its holdings. The Rhode Island-based Endurance Wealth Management Inc has invested 0% in Newmont Mining Corp (NYSE:NEM). Moreover, Moore Mgmt L P has 0.41% invested in Newmont Mining Corp (NYSE:NEM) for 266,405 shares. Midas Management has 1% invested in the company for 45,000 shares. Oxford Asset Mngmt owns 250,000 shares or 0.41% of their US portfolio. Principal Fincl accumulated 797,694 shares or 0.04% of the stock.

Insider Transactions: Since July 26, 2016, the stock had 0 buys, and 6 sales for $1.47 million net activity. The insider Lawson Scott P sold 4,700 shares worth $189,627. MacGowan William N also sold $75,285 worth of Newmont Mining Corp (NYSE:NEM) on Tuesday, November 1. Shares for $370,148 were sold by Engel E Randall. Shares for $415,947 were sold by Gottesfeld Stephen P on Wednesday, July 27.

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 $19.64 billion. The Firm is primarily a gold producer with activities and/or assets in the United States, Australia, Peru, Indonesia, Ghana and Suriname. It currently has negative earnings. 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 recent Newmont Mining Corp (NYSE:NEM) news were published by: Fool.com which released: “Has Newmont Mining Corp. Earned a Clean Bill of Health?” on October 11, 2016. Also Wsj.com published the news titled: “Newmont Mining Swings to a Loss, Revises Dividend Policy” on October 26, 2016. Blogs.Wsj.com‘s news article titled: “CFO Moves: Newmont Mining, Varian Medical Systems, Diplomat Pharmacy, Nokia” with publication date: October 27, 2016 was also an interesting one.

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