Freeport-McMoRan Inc’s recent filing unveils that its Senior VP & CAO Higgins Stephen T. unloaded Company’s shares for reported $4.16 million on May 13 ’24. In the deal valued at $52.03 per share,80,000 shares were sold. As a result of this transaction, Higgins Stephen T. now holds 104,377 shares worth roughly $4.72 million.
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Then, ADKERSON RICHARD C sold 54,771 shares, generating $2,781,118 in total proceeds. Upon selling the shares at $50.78, the Chairman of the Board & CEO now owns 3,652,478 shares.
Before that, Higgins Stephen T. sold 43,900 shares. Freeport-McMoRan Inc shares valued at $2,242,333 were divested by the Senior VP & CAO at a price of $51.08 per share. As a result of the transaction, Higgins Stephen T. now holds 104,377 shares, worth roughly $4.72 million.
Morgan Stanley upgraded its Freeport-McMoRan Inc [FCX] rating to an Overweight from a an Equal-weight in a research note published on June 21, 2024; the price target was increased to $62 from $49.50. A number of analysts have revised their coverage, including BofA Securities’s analysts, who increased its forecast for the stock in early April from “a Neutral” to “a Buy”. Bernstein revised its rating on January 08, 2024. It rated FCX as “an Outperform” which previously was an “a Mkt perform”.
Price Performance Review of FCX
On Monday, Freeport-McMoRan Inc [NYSE:FCX] saw its stock jump 1.19% to $45.19. Over the last five days, the stock has gained 2.12%. Freeport-McMoRan Inc shares have risen nearly 6.66% since the year began. Nevertheless, the stocks have risen 18.48% over the past one year. While a 52-week high of $55.15 was reached on 05/20/24, a 52-week low of $32.67 was recorded on 02/13/24. SMA at 50 days reached $46.20, while 200 days put it at $44.17.
Levels Of Support And Resistance For FCX Stock
The 24-hour chart illustrates a support level at 44.76, which if violated will result in even more drops to 44.34. On the upside, there is a resistance level at 45.81. A further resistance level may holdings at 46.44. The Relative Strength Index (RSI) on the 14-day chart is 55.15, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.61, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 12.58%. Stochastics %K at 86.77% indicates the stock is a selling.
How much short interest is there in Freeport-McMoRan Inc?
A steep rise in short interest was recorded in Freeport-McMoRan Inc stocks on 2024-07-31, dropping by -0.13 million shares to a total of 21.51 million shares. Yahoo Finance data shows the prior-month short interest on 2024-06-28 was 21.64 million shares. There was a decline of -0.61%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on October 17, 2023 when JP Morgan began covering the stock and recommended ‘”a Neutral”‘ rating along with a $42 price target.
