Freeport-McMoran (FCX) has been under a strong bear grip, hence the stock is down -5.89% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.3% in the past 1 week. The stock has risen by 1.27% in the past week indicating that the buyers are active at lower levels, but the stock is down -5.52% in the past 4 weeks.
Freeport-McMoRan Inc. is up 8.03% in the last 3-month period. Year-to-Date the stock performance stands at 76.81%. The stock has recorded a 20-day Moving Average of 3.2% and the 50-Day Moving Average is 1.31%.
Freeport-McMoran (NYSE:FCX): The stock opened at $12.06 on Friday but the bulls could not build on the opening and the stock topped out at $12.08 for the day. The stock traded down to $11.89 during the day, due to lack of any buying support eventually closed down at $11.97 with a loss of -2.13% for the day. The stock had closed at $12.23 on the previous day. The total traded volume was 17,288,342 shares.
Also, Brokerage firm Barclays maintains its rating on Freeport-McMoran (NYSE:FCX). As per the latest information, the brokerage house raises the price target to $11 per share from a prior target of $10. The shares have been rated Equal-weight. The rating by the firm was issued on August 8, 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.