Large Inflow of Money Detected in Freeport-McMoran

Freeport-McMoran (FCX) stock had a bullish inflow of $20.56 million worth of trades on uptick and an outflow of $18.02 million in downticks on Tuesday. The total uptick to downtick ratio stood at 1.14. The net money flow into the stock was $2.54 million. The money flow data, which is calculated as the dollar value of composite uptick minus the downtick trades indicated bullish. The block trades had a total money flow of $1.7 million. An inflow of $5.52 million block trade was recorded on downticks. $7.21 million of block trade during Uptick was observed, which shows continued buying by the smart money on every weakness. The total uptick to downtick ratio of block trades was 1.31 in favor of the bulls. However, Freeport-McMoran (FCX) stock traded down $0.26 , and reached $10.72, a drop of -2.37% over the previous day. On a weekly basis, the stock is -1.56%, over the previous weeks close.


Also, In a research note released to the investors, Barclays maintains its rating on Freeport-McMoran (NYSE:FCX).The analysts at the brokerage house have a current rating of Equal-weight on the shares. In a recent information released to the investors, Barclays raises the new price target from $10 per share to $11 per share. The rating by the firm was issued on August 8, 2016.

Freeport-McMoRan Inc. has lost 11.85% in the last five trading days and dropped 15.38% in the last 4 weeks. Freeport-McMoRan Inc. has dropped 0.38% during the last 3-month period . Year-to-Date the stock performance stands at 55.98%.

Freeport-McMoran (NYSE:FCX): The stock opened at $10.94 on Tuesday but the bulls could not build on the opening and the stock topped out at $10.97 for the day. The stock traded down to $10.45 during the day, due to lack of any buying support eventually closed down at $10.56 with a loss of -3.83% for the day. The stock had closed at $10.98 on the previous day. The total traded volume was 28,234,679 shares.

In a related news, Flores James C, (Vice Chairman of the Board) of Freeport-Mcmoran Inc, had purchased 2,200,000 shares on September 4, 2015. The total value of the transaction was $21,340,000. The information was disclosed with the SEC in a Form 4 Filing. 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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