West Brom had made enquiries about the Portugal international but Benfica are keen to offload the 27-year-old this month.
The Portuguese side paid £3m for the player a year ago and are keen to recoup that amount.
Benfica Striker Heading To Tyneside?
Benfica coach Quique Flores says the forward does not feature in his plans and the player's agent Kenneth Azquez says there are a number of clubs ready to make a move.