Large Inflow of Money Detected in Freeport-McMoran

Freeport-McMoran (FCX) : Wednesdays money flow indicated an uptick to downtick ratio was at 1.27. The total value of inflow transactions on upticks was $6.75 million, whereas, the total value of outflow trades on downticks was $5.32 million. The total money flow was $1.42 million, which shows a mild bullish bias. The total money flow into the stock in block trades was $1.89 million. The total value of the trades done on upticks was $2.83 million. Downticks saw transactions worth $0.94 million. The total uptick to downtick ratio stood at 3, mildly in favor of the bulls. Freeport-McMoran (FCX) was trading with a -3.69% change over previous days close. It fell $0.46 during the day and reached $11.99. The stock was -8.54% compared to the previous weeks close.


Also, 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 (NYSE:FCX): The stock opened at $12.11 on Wednesday but the bulls could not build on the opening and the stock topped out at $12.40 for the day. The stock traded down to $11.69 during the day, due to lack of any buying support eventually closed down at $12.30 with a loss of -1.20% for the day. The stock had closed at $12.45 on the previous day. The total traded volume was 39,267,735 shares.

The stock has recorded a 20-day Moving Average of 6.05% and the 50-Day Moving Average is 9.35%. In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the (Vice Chairman of the Board) of Freeport-Mcmoran Inc, Flores James C had purchased shares worth of $21,340,000 in a transaction dated on September 4, 2015. A total of 2,200,000 shares were purchased at a price of $9.7 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

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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