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 $5.07 million following the completion of this transaction.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
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 $5.07 million.
As published in a research note from Scotiabank on September 30, 2024, Freeport-McMoRan Inc [FCX] has been rated down from a Sector outperform to a Sector perform and the price target has been revised to $52. Analysts at UBS upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early September. As of June 21, 2024, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for FCX. Earlier on April 09, 2024, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for FCX stock which previously was a “a Neutral”.
Analyzing FCX Stock Performance
During the last five days, there has been a surge of approximately 7.91%. Over the course of the year, Freeport-McMoRan Inc shares have jumped approximately 14.84%. 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 $46.40, while a 200-day SMA reached $46.13. Nevertheless, trading volume fell to 12.47 million shares from 12.91 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 48.11, which, if violated, would cause prices to drop to 47.64. In the upper region, resistance lies at 49.13. The next price resistance is at 49.68. RSI (Relative Strength Index) is 57.84 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.59, which suggests the price will decrease in the coming days. Percent R is at 28.49%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
