Price Alert for Newmont Mining (NEM)

Posted on 04/03/2013 by Peter Mankowitz

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NEW YORK (AVAFIN) -- A new 3-month trading record was established on both the call and put side for shares of Newmont Mining. A total of 11,736 call and 26,597 put contracts were traded raising a low put/call volume alert. There were 2.3 puts traded for each call contract yielding a 2.27 put/call ratio.

Unusual volume provides reliable clues that the stock is expected to make a move. Investors can use the put/call ratio statistics to measure trader sentiment. A high put/call ratio suggests that the overall investment sentiment is bearish and that investors expect the underlying stock to decrease in value. Conversely, a low put/call ratio implies that investor sentiment is bullish based on the large amount of call options.

Shares of NEM opened today at $39.69 and settled the day down $1.36 to $38.47 during the session. The day's trading range is between $38.32 and $40.01 respectively. Performance indicators show that the stock has lost -10.57% within the last quarter. On the volume side, 11M shares were traded which is greater than the average volume of 7M shares. Newmont Mining is trading below the 50 day moving average and lower than the 200 day moving average. The stock's 52 week low is $38.50 and 52 week high is $57.93. The stock has a P/E ratio of 10.98 and a dividend yield of 3.70%.

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Newmont is the world's second-largest gold producer. In 2010, the firm produced 6.5 million ounces of gold and 600 million pounds of copper. North America accounted for 30% of consolidated gold production, South America for 23%, Asia Pacific for 39%, and Africa for 8%. As of Dec. 31, 2010, Newmont had 92 million ounces of proven and probable gold equity reserves.

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