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 $2,781,118 were sold by ADKERSON RICHARD C on May 06 ’24. At $50.78 per share, ADKERSON RICHARD C sold 54,771 shares. The insider’s holdings dropped to 3,652,478 shares worth approximately $182.48 million following the completion of this transaction.
Also, Higgins Stephen T. sold 42,767 shares, netting a total of over 2,153,259 in proceeds. Following the sale of shares at $50.35 each, the insider now holds 104,377 shares.
Before that, Higgins Stephen T. had sold 43,900 shares from its account. In a trade valued at $2,242,333, the Senior VP & CAO traded Freeport-McMoRan Inc shares for $51.08 each. Upon closing the transaction, the insider’s holdings decreased to 43,900 shares, worth approximately $5.21 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 0.10%. Over the course of the year, Freeport-McMoRan Inc shares have jumped approximately 17.75%. 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 $46.44, while a 200-day SMA reached $40.58. Nevertheless, trading volume fell to 14.17 million shares from 13.12 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 49.35, which, if violated, would cause prices to drop to 48.75. In the upper region, resistance lies at 50.64. The next price resistance is at 51.32. RSI (Relative Strength Index) is 53.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.89, which suggests the price will decrease in the coming days. Percent R is at 47.23%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
