Large Inflow of Money Witnessed in Freeport-McMoran

Freeport-McMoran (FCX) : Freeport-McMoran (FCX) had a healthy money flow of $12.42 million into the stock during the Thursdays trading session. The value of bullish trades on upticks was $89.27 million, whereas, investors only sold shares worth $76.85 million on downticks. The stock closed the day with an up-down ratio of 1.16.The money flow in the block trades to the tune of $8.98 million shows that the bulls were dominant, the large players used the weakness in the stock to accumulate it for the long-term. $22.51 million worth of transactions were on upticks. A paltry $13.53 million worth of block trade transactions on downticks shows that the investors are reluctant to sell the stock down. The total up-down ratio of the upticks vs the downticks in block trades was 1.66. Freeport-McMoran (FCX) stock slid $0.22 intraday and traded at 10.67, a change of -2.02% over previous days close. However, for the week, the company shares are -5.99% compared to previous weeks close.


Freeport-McMoran (FCX) : Currently there are 12 street experts covering Freeport-McMoran (FCX) stock. The most bullish and bearish price target for the stock is $15 and $6 respectively for the short term. The average price target of all the analysts comes to $10.71. The estimated standard deviation from the target is $2.52. The stock has recorded a 20-day Moving Average of 2.49% and the 50-Day Moving Average is 5.18%.

Freeport-McMoran (NYSE:FCX): The stock opened at $11.07 on Thursday but the bulls could not build on the opening and the stock topped out at $11.41 for the day. The stock traded down to $10.56 during the day, due to lack of any buying support eventually closed down at $10.67 with a loss of -2.02% for the day. The stock had closed at $10.89 on the previous day. The total traded volume was 38,483,315 shares.

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.

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