Monitoring Freeport-McMoRan Inc. (FCX) after recent insider movements


Freeport-McMoRan Inc.’s recently made public that its Chief Accounting Officer Mikes Ellie L. unloaded Company’s shares for reported $0.5 million on Mar 01. In the deal valued at $43.17 per share,11,678 shares were sold. As a result of this transaction, Mikes Ellie L. now holds 32,333 shares worth roughly $ 1.3 million.

From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio

The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.

Get our free report, "Top 5 AI Stocks to Buy for 2023".


Then, Currault Douglas N. II sold 75,000 shares, generating $3,018,832 in total proceeds. Upon selling the shares at $40.25, the Senior VP & General Counsel now owns 136,432 shares.

Before that, Lance Ryan Michael bought 31,000 shares. Freeport-McMoRan Inc. shares valued at $988,314 were divested by the Director at a price of $31.88 per share. As a result of the transaction, Lance Ryan Michael now holds 32,132 shares, worth roughly $1.29 million.

Scotiabank downgraded its Freeport-McMoRan Inc. [FCX] rating to a Sector perform from a a Sector outperform in a research note published on Tuesday. PT values the company’s stock at a premium of -18.06 to its Tuesday closing price. A number of analysts have revised their coverage, including Exane BNP Paribas’s analysts, who decreased its forecast for the stock in early October from “an Outperform” to “a Neutral”. Exane BNP Paribas also remained covering FCX and has increased its forecast on July 13, 2022 with a “an Outperform” recommendation from previously “Neutral” rating. Citigroup revised its rating on July 13, 2022. It rated FCX as “a Neutral” which previously was an “a Buy”.

Price Performance Review of FCX

On Tuesday, Freeport-McMoRan Inc. [NYSE:FCX] saw its stock fall -6.06% to $40.14. On the same session, the stock had its day’s lowest price of $39.98, but rose to a high of $42.31. Over the last five days, the stock has lost -2.03%. Freeport-McMoRan Inc. shares have risen nearly 5.81% since the year began. Nevertheless, the stocks have fallen -19.20% over the past one year. While a 52-week high of $51.54 was reached on 01/25/23, a 52-week low of $24.69 was recorded on 01/03/23. SMA at 50 days reached $42.41, while 200 days put it at $35.15. A total of 16.14 million shares were traded, compared to the trading of 8.7 million shares in the previous session.

Levels Of Support And Resistance For FCX Stock

The 24-hour chart illustrates a support level at 39.31, which if violated will result in even more drops to 38.48. On the upside, there is a resistance level at 41.64. A further resistance level may holdings at 43.14. The Relative Strength Index (RSI) on the 14-day chart is 41.30, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.40, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 76.80%. Stochastics %K at 65.50% indicates the stock is a holding.

How much short interest is there in Freeport-McMoRan Inc.?

A steep rise in short interest was recorded in Freeport-McMoRan Inc. stocks on Jan 12, 2023, growing by 1.85 million shares to a total of 29.6 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 27.75 million shares. There was a rise of 6.25%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.08% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.49.

Freeport-McMoRan Inc. [FCX] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 111,547,099 shares, or roughly 7.80% of the outstanding FCX shares. In other words, the investor’s shares have risen by 1,021,341 from its previous 13-F filing of 110525758.0. Additionally, Fidelity Management & Research Co increased 1.21% of its stake after which the total value it holdings stand at $3,756,377,981, while Capital Research & Management Co added 13.21% of its stake to hold $3.6 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -1,223,704 shares of Freeport-McMoRan Inc., while BlackRock Fund Advisors sold 15,759 shares. At present, Fisher Asset Management LLC is holding 53,320,760 shares valued at $2.38 billion. JPMorgan Investment Management, I owned 31,828,894 shares of the company at the time of its most recent 13F filing, worth $1.42 billion.

According to FactSet, Freeport-McMoRan Inc.’s share price will average $45.43 in the next year, based on opinions of analysts polled by the firm. This is up nearly 8.82 percent from its previous closing price of $42.73. Analysts expect Freeport-McMoRan Inc. stock to reach the higher price of $60.00, while the lowest price estimate is $24.00. However, 23 analysts have rated FCX stock as an Overweight in their predictions for 2023.


Please enter your comment!
Please enter your name here