Freeport-McMoran (FCX): Price Target and June Short Interest Disclosure

Freeport-McMoran (FCX) : The most positive equity analysts on Freeport-McMoran (FCX) expects the shares to touch $15, whereas, the least positive believes that the stock will trade at $6 in the short term. The company is covered by 12 Wall Street Brokerage Firms. The average price target for shares are $10.63 with an expected fluctuation of $2.68 from the mean.

Freeport-McMoran (FCX) stated loss of 19,649,215 shares or 15.1% in the short interest. The short interest registered from 130,038,272 on June 15,2016 to 110,389,057 on June 30,2016. In terms of floated shares, the shorted positions stood at 9%. The stock has been averaging 37,036,888 shares daily in trading and would need 3 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Goldman Sachs initiates coverage on Freeport-McMoran (NYSE:FCX).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, Goldman Sachs announces the price target of $12 per share. The rating by the firm was issued on May 19, 2016.


Freeport-McMoran (NYSE:FCX): On Thursdays trading session , Opening price of the stock was $13.03 with an intraday high of $13.2199. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $12.6807. However, the stock managed to close at $12.95, a loss of 0.08% for the day. On the previous day, the stock had closed at $12.96. The total traded volume of the day was 31,588,304 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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