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 $4,162,512 were sold by Higgins Stephen T. on May 13 ’24. At $52.03 per share, Higgins Stephen T. sold 80,000 shares. The insider’s holdings dropped to 104,377 shares worth approximately $4.71 million following the completion of this transaction.
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Also, ADKERSON RICHARD C sold 54,771 shares, netting a total of over 2,781,118 in proceeds. Following the sale of shares at $50.78 each, the insider now holds 3,652,478 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 $4.71 million.
As published in a research note from UBS on September 04, 2024, Freeport-McMoRan Inc [FCX] has been rated up from a Neutral to a Buy and the price target has been revised to $55 from $54. Analysts at Morgan Stanley upgraded the stock from ‘”an Equal-weight”‘ to ‘”an Overweight”‘ outlook in a report released in late June. As of April 09, 2024, BofA Securities has increased its “Neutral” rating to a “Buy” for FCX.
Analyzing FCX Stock Performance
During the last five days, there has been a surge of approximately 7.96%. Over the course of the year, Freeport-McMoRan Inc shares have jumped approximately 6.54%. Shares of the company reached a 52-week high of $55.24 on 05/20/24 and a 52-week low of $36.26 on 02/13/24. A 50-day SMA is recorded $43.84, while a 200-day SMA reached $44.73. Nevertheless, trading volume fell to 16.51 million shares from 11.57 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 44.80, which, if violated, would cause prices to drop to 44.47. In the upper region, resistance lies at 45.66. The next price resistance is at 46.19. RSI (Relative Strength Index) is 61.35 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.90, which suggests the price will increase in the coming days. Percent R is at 10.90%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
