Could Newmont Mining Corp Decline After Today’s Tip From Option Traders?

 Could Newmont Mining Corp Decline After Today's Tip From Option Traders?

In today’s session Newmont Mining Corp (NEM) registered an unusually high (1,970) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2018 call, expecting serious NEM increase. With 1,970 contracts traded and 67674 open interest for the Jan, 18 contract, it seems this is a quite bullish bet. The option with symbol: NEM180119C00035000 closed last at: $4.75 or 12.8% down. About 595,028 shares traded hands. Newmont Mining Corp (NYSE:NEM) has risen 2.60% since April 25, 2016 and is uptrending. It has underperformed by 3.41% the S&P500.

Analysts await Newmont Mining Corp (NYSE:NEM) to report earnings on February, 15. They expect $0.50 EPS, up 1,150.00% or $0.46 from last year’s $0.04 per share. NEM’s profit will be $268.88 million for 16.09 P/E if the $0.50 EPS becomes a reality. After $0.51 actual EPS reported by Newmont Mining Corp for the previous quarter, Wall Street now forecasts -1.96% negative EPS growth.

Newmont Mining Corp (NYSE:NEM) Ratings Coverage

Out of 20 analysts covering Newmont Mining Corporation (NYSE:NEM), 12 rate it a “Buy”, 0 “Sell”, while 8 “Hold”. This means 60% are positive. $45 is the highest target while $16 is the lowest. The $31.51 average target is -2.05% below today’s ($32.17) stock price. Newmont Mining Corporation has been the topic of 52 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating given on Wednesday, September 30 by UBS. The stock of Newmont Mining Corp (NYSE:NEM) earned “Buy” rating by Mackie on Thursday, October 29. Howard Weil upgraded the stock to “Outperform” rating in Monday, August 31 report. Barclays Capital upgraded the shares of NEM in a report on Monday, October 17 to “Overweight” rating. The company was downgraded on Thursday, June 2 by Jefferies. The company was maintained on Wednesday, July 20 by FBR Capital. The stock of Newmont Mining Corp (NYSE:NEM) earned “Hold” rating by Standpoint Research on Friday, March 18. FBR Capital maintained Newmont Mining Corp (NYSE:NEM) on Tuesday, November 3 with “Mkt Perform” rating. Jefferies maintained the stock with “Hold” rating in Thursday, July 14 report. On Tuesday, August 2 the stock rating was initiated by Citigroup with “Buy”.

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 improved, 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.
Lansdowne Ptnrs (Uk) Limited Liability Partnership last reported 0.26% of its portfolio in the stock. Riggs Asset Managment Com accumulated 0% or 1 shares. Kessler Investment Limited Liability Company accumulated 98,570 shares or 5.52% of the stock. Hellman Jordan Mgmt Incorporated Ma owns 33,284 shares or 2.63% of their US portfolio. Parametric Risk Lc holds 0.11% of its portfolio in Newmont Mining Corp (NYSE:NEM) for 43,935 shares. Moreover, Gamco Et Al has 0.38% invested in Newmont Mining Corp (NYSE:NEM) for 1.46M shares. First Manhattan accumulated 0.04% or 153,072 shares. Cambridge Investment Research Advisors has 24,128 shares for 0.02% of their US portfolio. Impala Asset Ltd Llc holds 1.95 million shares or 5.49% of its portfolio. Lpl Financial Limited Liability Co holds 0.01% or 23,200 shares in its portfolio. Advantus Capital Inc holds 51,601 shares or 0.06% of its portfolio. Old Mutual Customised Solutions (Proprietary) Ltd accumulated 0.09% or 9,300 shares. Loomis Sayles Limited Partnership has 0% invested in the company for 16,292 shares. Bridgewater Assoc L P last reported 0.14% of its portfolio in the stock. The Wisconsin-based State Of Wisconsin Board has invested 0.1% in Newmont Mining Corp (NYSE:NEM).

Insider Transactions: Since July 26, 2016, the stock had 0 insider purchases, and 6 insider sales for $1.47 million net activity. Gottesfeld Stephen P sold $415,947 worth of Newmont Mining Corp (NYSE:NEM) on Wednesday, July 27. Engel E Randall had sold 8,700 shares worth $370,148 on Thursday, July 28. 1,500 shares with value of $53,985 were sold by Lawson Scott P on Tuesday, October 25. MacGowan William N sold $75,285 worth of Newmont Mining Corp (NYSE:NEM) on Tuesday, November 1.

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 $17.30 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: Business.Financialpost.com which released: “Newmont Mining Corp upgraded as ‘less complicated company'” on November 03, 2016. Also Nasdaq.com published the news titled: “Agree To Purchase Newmont Mining At $20, Earn 10.8% Using Options” on November 23, 2016. Schaeffersresearch.com‘s news article titled: “Barrick Gold Corporation, Newmont Mining Corp Puts Hot as Dollar Strengthens” with publication date: November 18, 2016 was also an interesting one.

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