Newmont Target of Unusually Large Options Trading (NYSE:NEM)

Newmont Co. (NYSE:NEM) saw some unusual options trading on Wednesday. Traders purchased 53,633 call options on the stock. This is an increase of approximately 32% compared to the average volume of 40,630 call options.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $128,670.00. Following the sale, the executive vice president now directly owns 79,596 shares in the company, valued at approximately $3,413,872.44. This trade represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,154 shares of company stock valued at $1,166,843. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Newmont

Large investors have recently bought and sold shares of the business. Freestone Capital Holdings LLC acquired a new position in Newmont during the 4th quarter worth $1,270,000. Ethos Financial Group LLC acquired a new position in Newmont during the 4th quarter worth $56,000. Raymond James Financial Inc. acquired a new position in Newmont during the 4th quarter worth $35,117,000. Promus Capital LLC acquired a new position in Newmont during the 4th quarter worth $38,000. Finally, Cullen Frost Bankers Inc. lifted its position in Newmont by 10.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 220,140 shares of the basic materials company’s stock worth $8,194,000 after acquiring an additional 20,281 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Trading Down 0.1 %

Shares of NYSE:NEM opened at $44.93 on Friday. The stock has a market capitalization of $51.14 billion, a PE ratio of -29.56, a P/E/G ratio of 0.36 and a beta of 0.52. Newmont has a 1 year low of $29.42 and a 1 year high of $58.72. The firm has a fifty day moving average price of $40.35 and a 200 day moving average price of $46.54. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Analysts Set New Price Targets

Several brokerages have issued reports on NEM. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. Scotiabank cut their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. Bernstein Bank boosted their target price on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, Royal Bank of Canada lowered their price target on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.44.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.