On April 4, 2023 at 10:32:51 ET an unusually large
$899.10K block of Call contracts in Newmont Mining
(NEM) was bought,
with a strike price of $50.00 / share, expiring in 73 days (on June 16, 2023).
Fintel tracks all large options trades, and the premium spent on this trade was 1.76 sigmas above the mean, placing it in the 95.85 percentile of all recent large trades made in NEM options.
This trade was first picked up on Fintel’s real time Unusual Option Trades
tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 17.00% Upside
As of March 31, 2023,
the average one-year price target for Newmont Mining is $57.88.
The forecasts range from a low of $48.48 to a high of $73.50.
The average price target represents an increase of 17.00% from its latest reported closing price of $49.47.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Newmont Mining
is $11,905MM, a decrease of 0.08%.
The projected annual non-GAAP EPS
is $1.98.
What is the Fund Sentiment?
There are 1922 funds or institutions reporting positions in Newmont Mining.
This is an increase
of
56
owner(s) or 3.00% in the last quarter.
Average portfolio weight of all funds dedicated to NEM is 0.41%,
a decrease
of 7.13%.
Total shares owned by institutions increased
in the last three months by 0.03% to 709,967K shares.
The put/call ratio of NEM is 0.54, indicating a
bullish
outlook.
What are Large Shareholders Doing?
Van Eck Associates
holds 36,058K shares
representing 4.54% ownership of the company.
In it’s prior filing, the firm reported owning 33,137K shares, representing
an increase
of 8.10%.
The firm
increased
its portfolio allocation in NEM by 6.10% over the last quarter.
GDX – VanEck Vectors Gold Miners ETF
holds 31,852K shares
representing 4.01% ownership of the company.
In it’s prior filing, the firm reported owning 28,729K shares, representing
an increase
of 9.81%.
The firm
decreased
its portfolio allocation in NEM by 2.42% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 24,137K shares
representing 3.04% ownership of the company.
In it’s prior filing, the firm reported owning 23,657K shares, representing
an increase
of 1.99%.
The firm
increased
its portfolio allocation in NEM by 5.81% over the last quarter.
First Eagle Investment Management
holds 18,397K shares
representing 2.32% ownership of the company.
In it’s prior filing, the firm reported owning 17,855K shares, representing
an increase
of 2.94%.
The firm
increased
its portfolio allocation in NEM by 6.19% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares
holds 18,349K shares
representing 2.31% ownership of the company.
In it’s prior filing, the firm reported owning 17,992K shares, representing
an increase
of 1.95%.
The firm
increased
its portfolio allocation in NEM by 5.51% over the last quarter.
Newmont Background Information
(This description is provided by the company.)
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
