Freeport-McMoran (FCX) has risen sharply, recording gains of 9.2% in the past 4 weeks. However, the stock has corrected -5.63% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 6.55% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Freeport-McMoran (NYSE:FCX): The stock opened at $12.32 on Friday but the bulls could not build on the opening and the stock topped out at $12.37 for the day. The stock traded down to $11.88 during the day, due to lack of any buying support eventually closed down at $12.23 with a loss of -0.73% for the day. The stock had closed at $12.32 on the previous day. The total traded volume was 36,713,630 shares.
The stock has recorded a 20-day Moving Average of 2.86% and the 50-Day Moving Average is 5.1%. Freeport-McMoRan Inc. is up 3.73% in the last 3-month period. Year-to-Date the stock performance stands at 80.65%.
Freeport-McMoran (FCX) : The consensus price target for Freeport-McMoran (FCX) is $11.41 for the short term with a standard deviation of $2.32. The most optimist securities analyst among the 11 who monitor the stock believes that the stock can reach $15, however, the pessimist price target for the company is $8.
Freeport-McMoRan Inc. (FCX) is a natural resource company with an industry portfolio of mineral assets, oil and natural gas resources, and a production profile. FCX has organized its operations into six primary divisions: North America copper mines, South America mining, Indonesia mining, Africa mining, Molybdenum mines, and United States oil and gas operations. The Companys portfolio of assets includes the Grasberg minerals district in Indonesia, mining operations in North and South America, the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC) in Africa, and oil and natural gas assets in North America. The Company is also engaged in operating copper conversion facilities located in North America, and a refinery, three rod mills and a specialty copper products facility. The Companys Atlantic Copper smelts and refines copper concentrates and markets refined copper and precious metals in slimes.