Newmont Offering Possible 5.93% Return Over the Next 15 Calendar Days

Newmont's most recent trend suggests a bearish bias. One trading opportunity on Newmont is a Bear Call Spread using a strike $24.00 short call and a strike $29.00 long call offers a potential 5.93% return on risk over the next 15 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $24.00 by expiration. The full premium credit of $0.28 would be kept by the premium seller. The risk of $4.72 would be incurred if the stock rose above the $29.00 long call strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Newmont is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Newmont is bullish.

The RSI indicator is below 20 which suggests that the stock is in oversold territory.

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LATEST NEWS for Newmont

Is the Tide Finally Turning for Gold Miners?
Sun, 08 Dec 2013 16:32:22 GMT
Motley Fool – According to COMEX the amount of gold for delivery is at its lowest level in a decade despite strong demand — is the market about to explode?

Weekly COMEX Gold Inventories: Action Starts To Pick Up At The COMEX Gold Warehouses
Sun, 08 Dec 2013 11:16:57 GMT
Seeking Alpha – Last week we noted that it was relatively a slow week, though not much of a surprise since it was a holiday week in the United States, but December deliveries were approaching and we expected to see a …

NEWMONT MINING CORP /DE/ Files SEC form 8-K, Change in Directors or Principal Officers
Fri, 06 Dec 2013 22:21:52 GMT

Newmont Falls on Midas Mine Sale Deal
Fri, 06 Dec 2013 19:20:02 GMT
Zacks – Gold miner Newmont Mining Corporation has entered into a deal to sell its Midas underground operation and mill complex in Nevada to Klondex Mines Ltd. for a total consideration of over $83 million.

Indonesia ore export ban will kill off domestic mining – industry
Fri, 06 Dec 2013 07:04:20 GMT
Reuters – Indonesia's mining industry will be killed off by a planned ban on unprocessed mineral exports, a domestic miners' association said, accusing the government of favoring international firms that can more easily adapt to the new rules. The ban by Indonesia, the world's top exporter of nickel ore, coal and refined tin and a major supplier of bauxite, would force miners to build smelters or sell ore to companies with smelters, reducing profit margins for smaller operators. “The national mining industry will die before it develops,” the Indonesian Mineral Entrepreneurs Association said in a statement, arguing that the ban favours firms such as Freeport McMoran Copper & Gold Inc and Newmont Mining Corp that have been operating in Indonesia for decades. The new rules, due to take effect from Jan. 12, are part of efforts by Indonesia to win a greater share of its resource wealth, but opposition has been mounting amid depressed metal prices and a widening trade deficit.

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