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 (153) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious NEM increase. With 153 contracts traded and 4704 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: NEM161216C00033000 closed last at: $2.02 or 9.4% down. About 2.52M shares traded hands. Newmont Mining Corp (NYSE:NEM) has risen 11.00% since April 18, 2016 and is uptrending. It has outperformed by 6.57% 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 51 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was upgraded by Jefferies to “Buy” on Tuesday, January 12. Standpoint Research downgraded the stock to “Hold” rating in Friday, March 18 report. The company was initiated on Tuesday, August 2 by Citigroup. The stock has “Equal-Weight” rating given by Barclays Capital on Monday, April 18. Howard Weil upgraded Newmont Mining Corp (NYSE:NEM) on Monday, August 31 to “Outperform” rating. On Thursday, November 3 the stock rating was upgraded by JP Morgan to “Overweight”. The company was upgraded on Tuesday, September 22 by Zacks. HSBC downgraded Newmont Mining Corp (NYSE:NEM) on Monday, October 26 to “Hold” rating. FBR Capital maintained the stock with “Mkt Perform” rating in Wednesday, July 20 report. The firm earned “Equal-Weight” rating on Tuesday, August 9 by Morgan Stanley.

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 increased to 0.86 in Q2 2016. Its up 0.01, from 0.85 in 2016Q1. The ratio increased, 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.
Stifel Corp last reported 0% of its portfolio in the stock. Utah Retirement accumulated 97,091 shares or 0.1% of the stock. Tahithromos Ltd Liability has 5.5% invested in the company for 105,000 shares. First Interstate Bank last reported 0% of its portfolio in the stock. Moreover, Panagora Asset Management has 0.01% invested in Newmont Mining Corp (NYSE:NEM) for 49,964 shares. Moreover, Retirement Of Alabama has 0.11% invested in Newmont Mining Corp (NYSE:NEM) for 477,664 shares. The California-based Blackrock Institutional Trust Na has invested 0.1% in Newmont Mining Corp (NYSE:NEM). Livforsakringsbolaget Skandia Omsesidigt last reported 53,243 shares in the company. Horseman Cap Mngmt, a United Kingdom-based fund reported 18,000 shares. Summit Gp Ltd last reported 0.13% of its portfolio in the stock. The Illinois-based Savant Lc has invested 0.09% in Newmont Mining Corp (NYSE:NEM). Parametric Risk Limited reported 43,935 shares or 0.11% of all its holdings. Foundation Resources has invested 7.67% of its portfolio in Newmont Mining Corp (NYSE:NEM). Ameritas Invest Partners accumulated 10,488 shares or 0.03% of the stock. Afam Cap accumulated 68,168 shares or 0.44% of the stock.

Insider Transactions: Since July 26, 2016, the stock had 0 insider purchases, and 6 insider sales for $1.47 million net activity. $365,685 worth of shares were sold by MacGowan William N on Thursday, August 4. 1,500 shares were sold by Lawson Scott P, worth $53,985 on Tuesday, October 25. Shares for $415,947 were sold by Gottesfeld Stephen P. Engel E Randall had sold 8,700 shares worth $370,148 on Thursday, July 28.

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 $16.64 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 notable recent Newmont Mining Corp (NYSE:NEM) news were published by: Businesswire.com which released: “Newmont Declares Commercial Production at Long Canyon, the Most Significant …” on November 15, 2016, also Reuters.com with their article: “Suriname Newmont gold mine opened, seen boosting struggling economy” published on November 18, 2016, Business.Financialpost.com published: “Newmont Mining Corp upgraded as ‘less complicated company'” on November 03, 2016. More interesting news about Newmont Mining Corp (NYSE:NEM) were released by: Prnewswire.com and their article: “Newmont Announces Pricing of Debt Tender Offer” published on November 10, 2016 as well as Wsj.com‘s news article titled: “Newmont Mining Swings to a Loss, Revises Dividend Policy” with publication date: October 26, 2016.

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