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Newmont

Newmont is the world's largest gold miner. It bought Goldcorp in 2019, combined its Nevada mines in a joint venture with competitor Barrick later that year, and also purchased competitor Newcrest in November 2023. Its portfolio includes 17 wholly or majority owned mines and interests in two joint ventures in the Americas, Africa, Australia and Papua New Guinea. The company is expected to produce roughly 5.5 million ounces of gold in 2024 from its core mines and 6.8 million in total. It is likely to sell a number of its higher cost, smaller mines accounting for 20% of forecast sales in 2024. Newmont also produces material amounts of copper, silver, zinc, and lead as byproducts. It had about two decades of gold reserves along with significant byproduct reserves at the end of December 2023.

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MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) on Wednesday announced an increase in its convertible senior notes offering to $2.6 billion from its initial $1.75 billion, signaling its <a href="https://www.benzinga.com/24/11/42079799/microstrategys-michael-saylor-to-advocate-for-bitcoin-investment-at-microsoft-board-meeting-offers-to-educate-rumble-ceo-with-the-strategy">continued aggressive stance</a> on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) accumulation.
The company plans to use the net proceeds to acquire additional Bitcoin and for general corporate purposes.
What Happened: This <a href="https://www.businesswire.com/news/home/20241120130094/en/MicroStrategy-Announces-Pricing-of-Offering-of-0-Convertible-Senior-Notes">announcement </a>comes as Bitcoin's price surges past $94,000, propelling MicroStrategy's market capitalization to $96.73 billion, surpassing the combined value of Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) and Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), the world's two largest gold mining companies.
The 0% convertible senior notes, due 2029, will be offered to qualified institutional buyers under Rule 144A of the Securities Act and certain non-U.S. persons in compliance with Regulation S. 
With an initial conversion price set at $672.40 per share—a 55% premium over the November 19 closing price—the offering highlights strong institutional demand.
MicroStrategy expects to raise $2.58 billion in net proceeds, potentially reaching $2.97 billion if initial purchasers exercise their option to acquire additional notes. 
The offering is set to close on Nov. 21, pending customary conditions.
The upsized offering underscores MicroStrategy's commitment to Bitcoin as <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41878981/microstrategy-acquires-another-27200-bitcoin-worth-2-billion">a treasury reserve asset</a>, a strategy that has significantly boosted its market value.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42086650/robinhood-positioned-as-top-crypto-deregulation-trade-says-bernstein">Robinhood Positioned As Top &#8216;Crypto Deregulation&#8217; Trade, Says Bernstein</a>
Why It Matters: The company's valuation now outpaces Newmont's $49.16 billion and Barrick Gold's $31.11 billion, reflecting the growing influence of digital<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42083188/mstr-rises-3-in-wednesday-pre-market-michael-saylors-company-is-now-worth-more-than-the-combined-market-caps-of-worlds-two-largest-gold-mining-companies"> assets over traditional commodities.</a>
"MicroStrategy's market cap exceeding these gold giants demonstrates the transformative potential of Bitcoin," said Peter Schiff, who questioned whether MicroStrategy could soon surpass the entire gold mining industry's capitalization.
MicroStrategy's stock has surged 3.36% in pre-market trading, driven by Bitcoin's rally to over $94,000.
The company recently acquired 51,780 bitcoin between Nov. 11 and 17 for $4.6 billion, further consolidating its position as the largest corporate holder of the cryptocurrency.
Its Bitcoin holdings now exceed 331,000 BTC, with a cumulative acquisition cost of over $16 billion.
Executive chairman Michael Saylor has positioned Bitcoin as a hedge against inflation, a strategy initiated in 2020 that has paid off amid surging cryptocurrency prices.
While MicroStrategy doubles down on Bitcoin, other major players like Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) continue to focus on traditional assets. 
Goldman <a href="https://www.benzinga.com/markets/commodities/24/11/42036300/go-for-gold-says-goldman-sachs-precious-yellow-metal-price-would-rise-in-2025-amid-central-bank-buying-fed-rate-cuts">recently projected gold prices</a> to reach $3,000 per ounce by the end of 2025, emphasizing its role as a leading commodity trade.
Read Next:<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42084945/coinbase-ceo-brian-armstrong-backs-doge-initiative-how-blockchain-could-transform-government-efficiency"> Coinbase CEO Brian Armstrong Backs DOGE Initiative: How Blockchain Could Transform Government Efficiency</a>

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MSTR

MicroStrategy Upsizes Convertible Notes Offering To $2.6 Billion For Bitcoin Purchases

MicroStrategy Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) is making headlines as its stock climbs in pre-market trading, driven by Bitcoin&#8217;s impressive rally. The company&#8217;s market value has now outstripped the combined worth of the world&#8217;s two largest gold mining companies.
MicroStrategy saw its shares rise by 3.36% as <a href="https://www.benzinga.com/24/11/42079312/bitcoin-dogecoin-gain-ethereum-drops-as-blackrocks-etf-options-volume-breaches-1b-on-debut-analyst-flags-opportunity-to-buy-eth-before-it-outperforms-btc">Bitcoin&#8217;s price exceeded $93,000</a>. According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, the company has now surpassed the market value of the two largest gold mining firms globally, Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) and Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>).
The market capitalization of&nbsp;MicroStrategy&nbsp;stands at $96.732 billion, significantly higher than&nbsp;Newmont&#8217;s&nbsp;$49.16 billion and&nbsp;Barrick Gold&#8217;s&nbsp;$31.11 billion. This valuation boost follows the <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42066712/microstrategy-stock-continues-to-climb-whats-going-on-2">company&#8217;s recent acquisition</a> of 51,780 Bitcoin, valued at $4.6 billion, completed&nbsp;between Nov. 11 and Nov.17.
Peter Schiff commented on the feat by MicroStrategy on Wednesday, &#8220;I wonder how much longer it will take before MSTR&#8217;s market cap exceeds the capitalization of the entire gold mining industry!&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is insane. <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a>&#39;s market capitalization now exceeds the combined market caps of <a href="https://twitter.com/search?q=%24NEM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NEM</a> and <a href="https://twitter.com/search?q=%24GOLD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOLD</a>, the two largest gold mining companies in the world. I wonder how much longer it will take before MSTR&#39;s market cap exceeds the capitalization of the entire gold mining industry!
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1858954216816918560?ref_src=twsrc%5Etfw">November 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42053687/peter-schiff-pokes-fun-at-microstrategys-bitcoin-buying-spree-michael-saylor-is-gonna-need-a-bigger-plan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Pokes Fun Of MicroStrategy&#8217;s Bitcoin Purchase: &#8216;Michael Saylor Is Gonna Need A Bigger Plan&#8217;</a>
Led by co-founder and chairman&nbsp;Michael Saylor,&nbsp;MicroStrategy&nbsp;has pivoted its strategy towards Bitcoin since 2020, viewing it as a hedge&nbsp;against inflation. 
Meanwhile, Goldman Sachs has given a &#8220;go for gold&#8221; as a <a href="https://www.benzinga.com/markets/commodities/24/11/42036300/go-for-gold-says-goldman-sachs-precious-yellow-metal-price-would-rise-in-2025-amid-central-bank-buying-fed-rate-cuts">leading commodity trade</a> for 2025, with prices expected to reach $3,000 per ounce by December 2025.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/42053406/bitcoin-ethereum-dogecoin-rise-amid-tesla-fueled-tech-stocks-rally-popular-analyst-says-btc-could-reach-138k-before-major-pullback?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Rise Amid Tesla-Fueled Tech Stocks Rally: Popular Analyst Says BTC Could Reac</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo by JOCA_PH on Shutterstock

General

MSTR Rises 3% In Wednesday Pre-Market: Michael Saylor's Company Is Now Worth More Than The Combined Market Caps Of World's Two Largest Gold Mining Companies

8 analysts have expressed a variety of opinions on Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">4</td>
<td align="right">1</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $60.12, with a high estimate of $67.00 and a low estimate of $53.00. Observing a 1.66% increase, the current average has risen from the previous average price target of $59.14. 
<img src="https://www.benzinga.com/files/images/story/2024/1732028519_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
The standing of Newmont among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Daniel Major</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$54.00</td>
<td>$67.00</td>
</tr>
<tr>
<td>Brian MacArthur</td>
<td>Raymond James</td>
<td>Raises</td>
<td>Outperform</td>
<td>$66.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Tanya Jakusconek</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$55.00</td>
<td>$59.00</td>
</tr>
<tr>
<td>Josh Wolfson</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$53.00</td>
<td>$54.00</td>
</tr>
<tr>
<td>Daniel Major</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$67.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Matthew Murphy</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$63.00</td>
<td>$54.00</td>
</tr>
<tr>
<td>Daniel Major</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$65.00</td>
<td>$50.00</td>
</tr>
<tr>
<td>David Coleman</td>
<td>Argus Research</td>
<td>Announces</td>
<td>Buy</td>
<td>$58.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Newmont. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Newmont compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Newmont's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Capture valuable insights into Newmont's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/NEM/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Newmont analyst ratings.</a>
<h2>Get to Know Newmont Better</h2>
Newmont is the world's largest gold miner. It bought Goldcorp in 2019, combined its Nevada mines in a joint venture with competitor Barrick later that year, and also purchased competitor Newcrest in November 2023. Its portfolio includes 17 wholly or majority owned mines and interests in two joint ventures in the Americas, Africa, Australia and Papua New Guinea. The company is expected to produce roughly 5.5 million ounces of gold in 2024 from its core mines and 6.8 million in total. It is likely to sell a number of its higher cost, smaller mines accounting for 20% of forecast sales in 2024. Newmont also produces material amounts of copper, silver, zinc, and lead as byproducts. It had about two decades of gold reserves along with significant byproduct reserves at the end of December 2023.
<h3>Newmont's Economic Impact: An Analysis</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Growth: Newmont's revenue growth over a period of 3 months has been noteworthy. As of 30 September, 2024, the company achieved a revenue growth rate of approximately 84.72%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Materials sector.
Net Margin: Newmont's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 20.02%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Newmont's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 3.12%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 1.65%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: Newmont's debt-to-equity ratio surpasses industry norms, standing at 0.31. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>How Are Analyst Ratings Determined?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

What Analysts Are Saying About Newmont Stock

JP Morgan analyst Al Harvey upgrades Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) from Neutral to Overweight.

Upgrades

JP Morgan Upgrades Newmont to Overweight

Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) shares are trading higher on Monday. The company disclosed a deal to sell its Musselwhite operation in Ontario, Canada, to Orla Mining Ltd. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/ORLA#AMEX">ORLA</a>) for up to<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b42032739/newmont-announces-sale-of-musselwhite-for-up-to-850-million" rel="noreferrer noopener"> $850 million in total consideration</a>.
As per the deal, Newmont will receive $810 million in cash at closing and up to $40 million in contingent payments.
The deal will push Newmont&#8217;s total proceeds from non-core asset sales past $2 billion and expected to close in the first quarter of 2025.
Notably, in February 2024, Newmont announced plans to divest six operations and two projects across its Australian, Ghanaian, and North American units.
With agreements finalized for assets in Australia, Ghana, and Musselwhite, the company aims to complete sales of its remaining North American non-core assets by the first quarter of 2025.
Also, Orla Mining expects the deal to be materially accretive on all key operating and financial per-share metrics, <a target="_blank" href="https://www.benzinga.com//node/42031628" rel="noreferrer noopener">benefiting all existing shareholders.</a>
Newmont expects total gross proceeds from 2024 transactions to reach up to $2.9 billion, including $2.3 billion from non-core divestitures and $527 million from other investment sales.
Newmont is advancing shareholder returns with a $3 billion buyback program, repurchasing 7.2 million shares for $336 million since October 2024. It also reduced debt by $500 million in 2024, nearing its $8 billion targeted debt balance.
Investors can gain exposure to the stock via&nbsp;iShares MSCI Global Gold Miners ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RING#NASDAQ">RING</a>) and VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>).
Price Action: NEM shares are up 2.58% at $41.99, and ORLA is up 8.25% at $4.265 at the last check Monday.
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Large Cap

Guidance

Asset Sales

Movers

Market Vectors ETF Trust Market Vectors Gold Miners

ORLA

RING

Newmont Strikes Deal To Sell Musselwhite Gold Mine, Bolstering $2 Billion Asset Sales Streak

WIIM

PAAS

Shares of precious metals stocks are trading higher amid a rise in the price of gold and silver, which are rebounding after falling last week.

Deep-pocketed investors have adopted a bearish approach towards Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NEM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Newmont. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 38% leaning bullish and 53% bearish. Among these notable options, 3 are puts, totaling $311,733, and 10 are calls, amounting to $855,050.
<h3>Predicted Price Range</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $37.5 to $50.0 for Newmont over the recent three months. 
<h3>Volume &amp; Open Interest Development</h3>
In terms of liquidity and interest, the mean open interest for Newmont options trades today is 4892.29 with a total volume of 11,049.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Newmont's big money trades within a strike price range of $37.5 to $50.0 over the last 30 days.
<h3>Newmont Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1731942070_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NEM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$1.97</td>
<td>$1.91</td>
<td>$1.97</td>
<td>$42.50</td>
<td>$253.9K</td>
<td>14.8K</td>
<td>1.4K</td>
</tr>
<tr>
<td>NEM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$3.3</td>
<td>$3.2</td>
<td>$3.2</td>
<td>$42.50</td>
<td>$160.0K</td>
<td>8.6K</td>
<td>1.5K</td>
</tr>
<tr>
<td>NEM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$3.1</td>
<td>$3.05</td>
<td>$3.1</td>
<td>$42.50</td>
<td>$143.8K</td>
<td>8.6K</td>
<td>2.0K</td>
</tr>
<tr>
<td>NEM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$1.35</td>
<td>$1.24</td>
<td>$1.35</td>
<td>$37.50</td>
<td>$135.1K</td>
<td>3.1K</td>
<td>2.7K</td>
</tr>
<tr>
<td>NEM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$1.35</td>
<td>$1.21</td>
<td>$1.35</td>
<td>$37.50</td>
<td>$101.3K</td>
<td>3.1K</td>
<td>703</td>
</tr>
</tbody>
</table>

<h3>About Newmont</h3>
Newmont is the world's largest gold miner. It bought Goldcorp in 2019, combined its Nevada mines in a joint venture with competitor Barrick later that year, and also purchased competitor Newcrest in November 2023. Its portfolio includes 17 wholly or majority owned mines and interests in two joint ventures in the Americas, Africa, Australia and Papua New Guinea. The company is expected to produce roughly 5.5 million ounces of gold in 2024 from its core mines and 6.8 million in total. It is likely to sell a number of its higher cost, smaller mines accounting for 20% of forecast sales in 2024. Newmont also produces material amounts of copper, silver, zinc, and lead as byproducts. It had about two decades of gold reserves along with significant byproduct reserves at the end of December 2023.
<h3>Where Is Newmont Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 1,355,859, the NEM's price is up by 2.76%, now at $42.06. </li>
<li>RSI readings suggest the stock is currently may be oversold.</li>
<li>Anticipated earnings release is in 94 days.</li>
</ul>
<h3>What Analysts Are Saying About Newmont</h3>
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $57.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Raymond James has decided to maintain their Outperform rating on Newmont, which currently sits at a price target of $66. 
&#x2A; In a cautious move, an analyst from Scotiabank downgraded its rating to Sector Perform, setting a price target of $55. 
&#x2A; An analyst from RBC Capital persists with their Sector Perform rating on Newmont, maintaining a target price of $53. 
&#x2A; An analyst from UBS has revised its rating downward to Neutral, adjusting the price target to $54. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Newmont with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Newmont's Options: A Look at What the Big Money is Thinking

Gross Divestment Proceeds to Date are Expected to Reach up to $2.9 Billion

Newmont Agrees To Sell Musselwhite Mine For Up to $850M, Reaching $2.9M In Total Divestment Proceeds

SBSW

USGO

Shares of precious metals stocks are trading lower as gold prices drop amid a rise in the US dollar.

Shares of precious metals stocks are trading lower as gold and silver drop amid a rise in the US dollar.

GATO

SAND

Shares of metals and materials companies are trading lower. The sector may be reacting to China's recent stimulus efforts which have struggled to buoy the economy and business conditions.

Renowned economist Peter Schiff advised investors to buy gold dips amid concerns over potential inflation following Donald Trump&#8216;s presidential election victory over Kamala Harris.
What Happened: &#8220;The best Trump trade now is buying the dip in gold and gold mining stocks,&#8221; Schiff posted on X. &#8220;Cutting taxes is easy. We know from experience that substantive spending cuts are impossible. Even Reagan couldn&#8217;t do it, despite making greater promises to do so. Trump will make inflation great again.&#8221;
Trump secured 277 electoral votes and 51% of the popular vote against Harris, according to Associated Press figures. 
Major gold mining stocks, including Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), and Royal Gold (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGLD#NASDAQ">RGLD</a>), declined over 2% on Wednesday, while gold spot prices traded at $2,656, down 0.09%.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The best <a href="https://twitter.com/hashtag/Trump?src=hash&amp;ref_src=twsrc%5Etfw">#Trump</a> trade now is buying the dip in <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> and gold mining stocks. Cutting taxes is easy. We know from experience that substantive spending cuts are impossible. Even Reagan couldn&#39;t do it, despite making greater promises to do so. Trump will make <a href="https://twitter.com/hashtag/inflation?src=hash&amp;ref_src=twsrc%5Etfw">#inflation</a> great again.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1854213969382162539?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/41794926/trump-white-house-could-unlock-trillion-dollar-ai-potential-for-tesla-says-dan-ives">Trump White House Could Unlock Trillion-Dollar AI Potential For Tesla, Says Dan Ives</a>
Why It Matters: A recent Wall Street Journal survey found <a href="https://www.benzinga.com/news/24/10/41312782/trumps-economic-policies-expected-to-drive-inflation-and-deficits-higher-than-harris-economists-say">that 68% of economists expect higher inflation</a> under Trump&#8217;s economic policies compared to Harris&#8217;s proposals, up from 56% in July. The survey, conducted October 4-8, showed only 12% anticipated higher inflation under Harris.
Trump previously announced plans to appoint Tesla Inc CEO Elon Musk as &#8220;Secretary of Cost-Cutting&#8221; to lead a new government efficiency commission. Speaking at New York&#8217;s Madison Square Garden, Musk claimed he <a href="https://www.benzinga.com/startups/24/11/41704205/elon-musk-says-we-can-cut-2-trillion-out-of-the-harris-biden-budget-and-that-americans-money-is-bein">could reduce federal spending by $2 trillion</a>. The commission would conduct &#8220;a complete financial and performance audit of the entire federal government,&#8221; according to Trump.
Economist Justin Wolfers raised <a href="https://www.benzinga.com/news/24/11/41795320/trumps-20-tariff-plans-could-unleash-wave-of-spending-on-big-ticket-buys-in-holiday-quarter-says-eco">concerns about potential consumer behavior</a>, noting on X: &#8220;I wonder whether we are going to see a burst of spending on consumer durables in Q4, as people pull forward spending on big ticket items ahead of the tariffs.&#8221;
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/11/41737614/elon-musks-political-posts-garner-17b-views-since-endorsing-trump-outpace-all-political-campaign-ads">Elon Musk&#8217;s Political Posts Garner 17B Views Since Endorsing Trump, Outpace All Political Campaign Ads Combined On X: Study Reveals 87 Misleading Claims With 2B Views</a></li>
</ul>
Image Via Unsplash
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

RGLD

Peter Schiff Says 'Cutting Taxes Is Easy' But Reducing Spending Not So Simple, Warns Of Inflation Spike Under Trump

Whales with a lot of money to spend have taken a noticeably bearish stance on Newmont.
Looking at options history for Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 16% of the investors opened trades with bullish expectations and 75% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $713,310 and 5, calls, for a total amount of $463,240.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $30.0 and $60.0 for Newmont, spanning the last three months.
<h3>Volume &amp; Open Interest Trends</h3>
In terms of liquidity and interest, the mean open interest for Newmont options trades today is 5097.0 with a total volume of 2,750.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Newmont's big money trades within a strike price range of $30.0 to $60.0 over the last 30 days.
<h3>Newmont Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730823356_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NEM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$12.5</td>
<td>$12.4</td>
<td>$12.5</td>
<td>$57.50</td>
<td>$352.5K</td>
<td>374</td>
<td style="text-align: right;">283</td>
</tr>
<tr>
<td>NEM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$13.5</td>
<td>$13.3</td>
<td>$13.44</td>
<td>$35.00</td>
<td>$295.6K</td>
<td>5.0K</td>
<td style="text-align: right;">220</td>
</tr>
<tr>
<td>NEM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/15/25</td>
<td>$14.85</td>
<td>$14.75</td>
<td>$14.85</td>
<td>$60.00</td>
<td>$142.5K</td>
<td>2</td>
<td style="text-align: right;">97</td>
</tr>
<tr>
<td>NEM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$18.85</td>
<td>$18.45</td>
<td>$18.7</td>
<td>$30.00</td>
<td>$56.1K</td>
<td>38</td>
<td style="text-align: right;">30</td>
</tr>
<tr>
<td>NEM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$12.5</td>
<td>$12.4</td>
<td>$12.5</td>
<td>$57.50</td>
<td>$55.0K</td>
<td>374</td>
<td style="text-align: right;">328</td>
</tr>
</tbody>
</table>

<h3>About Newmont</h3>
Newmont is the world's largest gold miner. It bought Goldcorp in 2019, combined its Nevada mines in a joint venture with competitor Barrick later that year, and also purchased competitor Newcrest in November 2023. Its portfolio includes 17 wholly or majority owned mines and interests in two joint ventures in the Americas, Africa, Australia and Papua New Guinea. The company is expected to produce roughly 5.5 million ounces of gold in 2024 from its core mines and 6.8 million in total. It is likely to sell a number of its higher cost, smaller mines accounting for 20% of forecast sales in 2024. Newmont also produces material amounts of copper, silver, zinc, and lead as byproducts. It had about two decades of gold reserves along with significant byproduct reserves at the end of December 2023.
Following our analysis of the options activities associated with Newmont, we pivot to a closer look at the company's own performance.
<h3>Newmont's Current Market Status</h3>
<ul>
<li>Trading volume stands at 1,499,891, with NEM's price up by 0.2%, positioned at $45.85.</li>
<li>RSI indicators show the stock to be may be approaching oversold.</li>
<li>Earnings announcement expected in 107 days.</li>
</ul>
<h3>Expert Opinions on Newmont</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $59.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; In a cautious move, an analyst from UBS downgraded its rating to Neutral, setting a price target of $54. 
&#x2A; An analyst from Raymond James has decided to maintain their Outperform rating on Newmont, which currently sits at a price target of $66. 
&#x2A; Reflecting concerns, an analyst from Scotiabank lowers its rating to Sector Perform with a new price target of $55. 
&#x2A; An analyst from RBC Capital persists with their Sector Perform rating on Newmont, maintaining a target price of $53. 
&#x2A; An analyst from UBS persists with their Buy rating on Newmont, maintaining a target price of $67. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Newmont options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Newmont Unusual Options Activity For November 05

Leading gold miner Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) has applied to extend the permit for its Cadia operation, Australia's <a target="_blank" href="https://www.benzinga.com/topic/mining" rel="noreferrer noopener">largest underground mine</a>, until 2050.
Located near Orange in New South Wales (NSW), Cadia plays a significant role in Newmont's portfolio and the Australian mining sector. It produces nearly 600,000 ounces of gold and a large share of the country's copper.
Per <a target="_blank" href="https://www.centralwesterndaily.com.au/story/8806996/newmonts-cadia-mine-expansion-plans-to-2050/" rel="noreferrer noopener">Central Western Daily</a>, extending Cadia's operations would generate significant regional benefits, providing over 2,100 full-time jobs and helping hundreds of regional suppliers. The mine's economic contribution is substantial, as the company spends around $135 million annually on employee salaries.
"The extension of Cadia's operations would be a tangible boost for responsible mining that contributes to global net zero goals, local jobs, and economic growth," said Suzy Retallack, Newmont's Chief Sustainability Officer.
Now Read:<a target="_blank" href="https://www.benzinga.com/markets/esg/24/10/41621596/net-zero-by-2050-might-cost-the-world-78-trillion-wood-mackenzie-estimates" rel="noreferrer noopener"> </a><a target="_blank" href="https://www.benzinga.com/markets/esg/24/10/41621596/net-zero-by-2050-might-cost-the-world-78-trillion-wood-mackenzie-estimates" rel="noreferrer noopener">Net Zero By 2050 Might Cost The World $78 Trillion, Wood Mackenzie Estimates</a>
The NSW Department of Planning, Housing, and Infrastructure will assess the application submitted under the federal Environment Protection and Biodiversity Conservation Act on behalf of the federal government.
Already deemed a state-significant project, Cadia's extension aligns with state and federal priorities for regional economic stability.
The mine recently earned recognition for sustainable production, receiving the Copper Mark and the Molybdenum Mark.
"Our global customers can now choose to source copper concentrate from an independently evaluated mine that meets the highest standards in environmental, social, and governance practices, responding to the increasing demand for sustainable supply chains," Retallack <a target="_blank" href="https://newmont.com/investors/news-release/news-details/2024/Newmont-Cadia-Awarded-The-Copper-Mark-and-The-Molybdenum-Mark/default.aspx" rel="noreferrer noopener">said</a> in an announcement.
Cadia is currently Australia's only operating source of molybdenum, a critical mineral used to strengthen steel without adding excessive weight. The $85 million processing plant can produce around 4.1 million pounds annually.
Newmont's commitment to Cadia reflects its strategic focus on Tier 1 assets. After the industry-shaking merger with Newcrest (whose flagship asset was Cadia), CEO Tom Palmer announced the company would <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/02/37287732/gold-miner-newmont-looks-to-sell-assets-reduce-8b-debt-load" rel="noreferrer noopener">divest from non-strategic operations</a>.
A recent sale of the Akyem operation in Ghana to Zijin Mining is expected to <a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41246715/newmont-strikes-1b-deal-for-akyem-sale-focus-sharpens-on-tier-1-assets" rel="noreferrer noopener">generate approximately $1 billion</a>, helping reduce debt and support core asset capital expenditures.
Newmont's stock is 14.74% up year-to-date, significantly lagging gold &#8211; one of the best assets of the year. SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) is up 34% year-to-date.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41605605/gold-hits-record-highs-defies-market-gravity-why-the-precious-metal-is-decoupling-f" target="_blank" rel="noreferrer noopener">Gold Hits Record Highs, Defies Market Gravity: Why The Precious Metal Is Decoupling From Treasury Yields</a></li>
</ul>
Image via Shutterstock

Commodities

Legal

Newmont Seeks To Extend Largest Australian Mine Until 2050

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5911f1be290fa7000105e630/douglas-harned">Bernstein analyst Douglas Harned</a> downgraded the rating for The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) from Outperform to Market Perform and lowered the price target from $195 to $169. Boeing shares closed at $152.98 on Tuesday. <a href="https://www.benzinga.com/quote/BA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Exane BNP Paribas analyst Karl Ackerman downgraded Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) from Outperform to Neutral and announced a price target of $80. Qorvo shares closed at $100.48 on Tuesday. <a href="https://www.benzinga.com/quote/QRVO/analyst-ratings">See how other analysts view this stock</a>.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59f9f1ddefacff0001008f5b/dan-levy">Barclays analyst Dan Levy</a> downgraded Lear Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEA#NYSE">LEA</a>) from Overweight to Equal-Weight and lowered the price target from $140 to $120. Lear shares closed at $99.58 on Tuesday. <a href="https://www.benzinga.com/quote/LEA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>UBS analyst Daniel Major downgraded the rating for Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) from Buy to Neutral and slashed the price target from $67 to $54. Newmont shares closed at $47.80 on Tuesday. <a href="https://www.benzinga.com/quote/NEM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Truist Securities analyst Michael Roxland downgraded Graphic Packaging Holding Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPK#NYSE">GPK</a>) from Buy to Hold and lowered the price target from $32 to $30. Graphic Packaging shares closed at $28.66 on Tuesday. <a href="https://www.benzinga.com/quote/GPK/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying BA stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="541" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30135302/image-312-1024x541.png" alt="" class="wp-image-622433" style="width:536px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30135302/image-312-1024x541.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30135302/image-312-300x158.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30135302/image-312-768x406.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30135302/image-312.png 1227w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41599928/top-3-tech-and-telecom-stocks-which-could-rescue-your-portfolio-for-october">Top 3 Tech And Telecom Stocks Which Could Rescue Your Portfolio For October</a></li>
</ul>

Downgrades

QRVO

This Boeing Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Wednesday

Newmont shares are trading lower after UBS downgraded the stock from Buy to Neutral and lowered its price target from $67 to $54.

UBS analyst Daniel Major downgrades Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) from Buy to Neutral and lowers the price target from $67 to $54.

Price Target

UBS Downgrades Newmont to Neutral, Lowers Price Target to $54

Renowned economist Peter Schiff questioned the soaring market capitalization of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) proxy company MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) compared to gold mining companies.
What Happened: In a recent X post, Schiff pointed out that MicroStrategy, despite not earning or producing much, has a market valuation exceeding all gold mining companies except for Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), the largest in the sector. 
Schiff even initiated an X poll, asking his followers if MicroStrategy&#8217;s market cap will eventually surpass Newmont&#8217;s. As things turned out, more than 83% voted in favor of such an outcome. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/MicroStrategy?src=hash&amp;ref_src=twsrc%5Etfw">#MicroStrategy</a> earns nothing and practically produces nothing, yet its current market capitalization exceeds that of every <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> mining company in the world except for Newmont, which has a market cap roughly 45% higher. Do you think <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a>&#39;s market cap will surpass <a href="https://twitter.com/search?q=%24NEM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NEM</a>&#39;s?
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1850910060089651484?ref_src=twsrc%5Etfw">October 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
As of this writing, MicroStrategy has a market cap of $47.764 billion, narrowly trailing Newmont, which was valued at $54.42 billion. Since the beginning of the year, shares of MicroStrategy have popped an impressive 276.9%, while the gold-mining company has grown by 16.84% year-to-date.
The short-term performance also favors the Bitcoin development company, which jumped 53% over the month compared to Newmont, which fell 10.57% during the same period.
Comparing the technical indicators of the two stocks, all of MicroStrategy&#8217;s moving averages flashed a &#8216;Buy&#8217; signal, while the momentum indicator Moving Average Convergence Divergence, which compares an asset&#8217;s long-term performance versus short-term, was also bullish, <a href="https://in.tradingview.com/symbols/NASDAQ-MSTR/technicals/">according</a> to TradingView. 
On the other hand, Newmont&#8217;s moving averages all <a href="https://in.tradingview.com/symbols/NYSE-NEM/technicals/">indicated </a>a &#8216;Sell&#8217; signal, implying a bearish condition.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41611332/jade-city-launches-mvp-platform-to-revolutionize-50-billion-jade-market-with-blockchain">Jade City Launches MVP Platform To Revolutionize $50 Billion Jade Market With Blockchain</a>
Why It Matters: This wasn&#8217;t the first time Schiff has expressed skepticism towards MicroStrategy. Last week, he <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41478505/peter-schiff-predicts-a-bloodbath-for-microstrategy-stock-calls-it-the-most-overvalued-on-">predicted a crash for the company</a>, terming it the most overvalued stock in the MSCI World Index. &#8220;When it finally crashes, that's gonna be the real bloodbath!" he said. 
Powered by the Bitcoin strategy, MicroStrategy under Michael Saylor has outperformed many top players on Wall Street. With year-to-date gains of 272%, it netted <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41567772/ahead-of-mag-7-earnings-season-michael-saylor-celebrates-bitcoin-proxy-microstrategys-reco">higher returns this year</a> than the &#8220;Magnificent 7&#8221; companies
As of this writing, the company held over $18 billion in Bitcoin on its books,&nbsp;<a href="https://bitcointreasuries.net/" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to bitcointreasuries.net.
Price Action: At the time of writing, Bitcoin was exchanging hands at $72,477.89, up 2.20% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Bitcoin&#8217;s rally boosted shares of MicroStrategy up 1.14% to $258.24 on Tuesday.
Photo Courtesy: Wikimedia Commons
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Peter Schiff Asks Followers If MicroStrategy Can Tower This Gold Mining Giant In Marketcap — Here's The Message They Delivered

Deep-pocketed investors have adopted a bullish approach towards Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NEM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 24 extraordinary options activities for Newmont. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 45% bearish. Among these notable options, 5 are puts, totaling $508,947, and 19 are calls, amounting to $1,660,642.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $37.5 to $62.5 for Newmont over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Newmont's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Newmont's whale activity within a strike price range from $37.5 to $62.5 in the last 30 days. 
<h3>Newmont 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730128544_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NEM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$14.45</td>
<td>$14.35</td>
<td>$14.45</td>
<td>$62.50</td>
<td>$333.7K</td>
<td style="text-align: right;">16</td>
<td style="text-align: right;">236</td>
</tr>
<tr>
<td>NEM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$10.1</td>
<td>$10.0</td>
<td>$10.0</td>
<td>$40.00</td>
<td>$140.0K</td>
<td style="text-align: right;">412</td>
<td style="text-align: right;">150</td>
</tr>
<tr>
<td>NEM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$7.05</td>
<td>$6.95</td>
<td>$7.05</td>
<td>$47.50</td>
<td>$130.4K</td>
<td style="text-align: right;">312</td>
<td style="text-align: right;">185</td>
</tr>
<tr>
<td>NEM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/15/25</td>
<td>$11.35</td>
<td>$11.15</td>
<td>$11.35</td>
<td>$40.00</td>
<td>$113.5K</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">200</td>
</tr>
<tr>
<td>NEM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/15/25</td>
<td>$11.35</td>
<td>$11.35</td>
<td>$11.35</td>
<td>$40.00</td>
<td>$113.5K</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">100</td>
</tr>
</tbody>
</table>

<h3>About Newmont</h3>
Newmont is the world's largest gold miner. It bought Goldcorp in 2019, combined its Nevada mines in a joint venture with competitor Barrick later that year, and also purchased competitor Newcrest in November 2023. Its portfolio includes 17 wholly or majority owned mines and interests in two joint ventures in the Americas, Africa, Australia and Papua New Guinea. The company is expected to produce roughly 6.9 million ounces of gold in 2024. However, after buying Newcrest, Newmont is likely to sell a number of its higher cost, smaller mines accounting for 20% of forecast sales in 2024. Newmont also produces material amounts of copper, silver, zinc, and lead as byproducts. It had about two decades of gold reserves along with significant byproduct reserves at the end of December 2023.
<h3>Present Market Standing of Newmont</h3>
<ul>
<li>With a trading volume of 4,094,269, the price of NEM is down by -0.25%, reaching $48.3.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 115 days from now.</li>
</ul>
<h3>What The Experts Say On Newmont</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $60.8.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Scotiabank has revised its rating downward to Sector Perform, adjusting the price target to $55. 
&#x2A; Maintaining their stance, an analyst from RBC Capital continues to hold a Sector Perform rating for Newmont, targeting a price of $53. 
&#x2A; An analyst from Raymond James has decided to maintain their Outperform rating on Newmont, which currently sits at a price target of $66. 
&#x2A; Maintaining their stance, an analyst from Jefferies continues to hold a Buy rating for Newmont, targeting a price of $63. 
&#x2A; Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Newmont, targeting a price of $67. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Newmont options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Looking At Newmont's Recent Unusual Options Activity

These ten large-cap stocks were the worst performers in the last week. Are they in your portfolio?
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<li>Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) stock lost 14.71% last week. Several healthcare stocks and hospital operators fell in possible sympathy with HCA Healthcare, which declined on Q3 earnings.</li>
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<li>Teradyne, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>) stock declined 11.34% after it reported <a href="https://www.benzinga.com//node/41503363" target="_blank" rel="noreferrer noopener">third-quarter financial results</a>. Some analysts trimmed the <a href="https://www.benzinga.com/quote/ter/analyst-ratings" target="_blank" rel="noreferrer noopener">price target on the stock</a>.</li>
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