KD Logo

A company insider recently sold 169,229 shares of Freeport-McMoRan Inc [FCX]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Freeport-McMoRan Inc shares valued at $8,557,014 were sold by ADKERSON RICHARD C on Apr 30 ’24. At $50.56 per share, ADKERSON RICHARD C sold 169,229 shares. The insider’s holdings dropped to 3,707,249 shares worth approximately $185.03 million following the completion of this transaction.

Also, Currault Douglas N. II sold 55,000 shares, netting a total of over 2,859,368 in proceeds. Following the sale of shares at $51.99 each, the insider now holds 164,067 shares.

Before that, Lewis Sara Grootwassink had added 4,000 shares to its account. In a trade valued at $139,597, the Director bought Freeport-McMoRan Inc shares for $34.90 each. Upon closing the transaction, the insider’s holdings increased to 4,000 shares, worth approximately $0.89 million.

As published in a research note from BofA Securities on April 09, 2024, Freeport-McMoRan Inc [FCX] has been rated up from a Neutral to a Buy and the price target has been revised to $59. As of January 08, 2024, Bernstein has increased its “Mkt perform” rating to a “an Outperform” for FCX. Earlier on October 17, 2023, JP Morgan initiated its rating. Their recommendation was “a Neutral” for FCX stock.

Analyzing FCX Stock Performance

During the last five days, there has been a surge of approximately 3.46%. Over the course of the year, Freeport-McMoRan Inc shares have jumped approximately 17.63%. Shares of the company reached a 52-week high of $52.52 on 04/29/24 and a 52-week low of $36.26 on 02/13/24. A 50-day SMA is recorded $45.26, while a 200-day SMA reached $40.35. Nevertheless, trading volume fell to 19.25 million shares from 17.23 million shares the previous day.

Support And Resistance Levels for Freeport-McMoRan Inc (FCX)

According to the 24-hour chart, there is a support level at 49.06, which, if violated, would cause prices to drop to 48.20. In the upper region, resistance lies at 51.08. The next price resistance is at 52.25. RSI (Relative Strength Index) is 56.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.05, which suggests the price will increase in the coming days. Percent R is at 48.15%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Most Popular

[the_ad id="945"]