Large Outflow of Money Witnessed in Freeport-McMoran

Shares of Freeport-McMoran (NYSE:FCX) traded 0.04 points or 0.39% higher at $10.4.The total intraday money flow for the shares came in at a disappointing $(-11.6) million. The total upticks amounted to $42.65 million and the total downticks were approximately $54.25 million, with the up/down ratio of 0.79. On a different note, the shares have seen -6.39% price change during the week.In a block trade which occurred during the day, the stock had an inflow of $8.79 million in upticks and an outflow of $22.09 million in downticks. The up/down ratio for the block was found to be 0.4. The net money flow for the block transaction was $(-13.3) million.


Currently the company Insiders own 3.13% of Freeport-McMoran shares according to the proxy statements. Institutional Investors own 68.46% of Freeport-McMoran shares. On the companys insider trading activities, Flores James C, (Vice Chairman of the Board) of Freeport-Mcmoran Inc, executed a transaction worth $21,340,000 on September 4, 2015. A total of 2,200,000 shares were purchased at an average price of $9.7. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

Freeport-McMoran (NYSE:FCX) : On Monday heightened volatility was witnessed in Freeport-McMoran (NYSE:FCX) which led to swings in the share price. The stock opened for trading at $10.25 and hit $10.71 on the upside , eventually ending the session at $10.4, with a gain of 0.39% or 0.04 points. The heightened volatility saw the trading volume jump to 25,648,132 shares. The 52-week high of the share price is $21.17 and the company has a market cap of $13,022 million. The 52-week low of the share price is at $3.52 .

Many analysts have stated their opinion on the company shares. Goldman Sachs initiates coverage on Freeport-McMoran (NYSE:FCX). The rating major has initiated the coverage with neutral rating on the shares. The Analysts at Goldman Sachs announces a current price target of $12 per share. The rating by the firm was issued on May 19, 2016.

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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