Freeport-McMoran (NYSE:FCX), A increase of 2,856,375 shares or 2.2% was observed in the short interest of Freeport-McMoRan Inc. The interest on June 15,2016 came in at 130,038,272 shares and as per the average daily trading of 39,122,586 shares, the days to cover are 3. The increased interest is 10.5% of the floated shares. The data of May 31,2016 put the interest at 127,181,897 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Freeport-McMoran (NYSE:FCX): The stock opened at $11.02 on Friday but the bulls could not build on the opening and the stock topped out at $11.11 for the day. The stock traded down to $10.51 during the day, due to lack of any buying support eventually closed down at $10.58 with a loss of -10.11% for the day. The stock had closed at $11.77 on the previous day. The total traded volume was 54,028,498 shares.
The company shares have dropped -45.41% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $19.96 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $11.08 and the 200 Day Moving Average price is recorded at $8.77.
Freeport-McMoran (NYSE:FCX) has tumbled 5.03% during the past week and has dropped 5.03% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 3.45%. Freeport-McMoran (NYSE:FCX) has underperformed the index by 2.15% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
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.