Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Freeport-McMoRan Inc shares valued at $583,878 were sold by Robertson Maree E. on Nov 11 ’24. At $44.91 per share, Robertson Maree E. sold 13,000 shares. The insider’s holdings dropped to 68,198 shares worth approximately $2.67 million following the completion of this transaction.
Also, Robertson Maree E. purchased 13,000 shares, netting a total of over 583,878 in proceeds.
Before that, Higgins Stephen T. had sold 80,000 shares from its account. In a trade valued at $4,162,512, the Senior VP & CAO traded Freeport-McMoRan Inc shares for $52.03 each. Upon closing the transaction, the insider’s holdings decreased to 80,000 shares, worth approximately $4.08 million.
As published in a research note from Bernstein on January 07, 2025, Freeport-McMoRan Inc [FCX] has been rated down from an Outperform to a Mkt perform and the price target has been revised to $46 from $51. Analysts at Scotiabank downgraded the stock from ‘”a Sector outperform”‘ to ‘”a Sector perform”‘ outlook in a report released in late September. As of September 04, 2024, UBS has increased its “Neutral” rating to a “Buy” for FCX. Earlier on June 21, 2024, Morgan Stanley upgraded its rating. Their new recommendation was “an Overweight” for FCX stock which previously was a “an Equal-weight”.
Analyzing FCX Stock Performance
During the last five days, there has been a drop of approximately -0.85%. Over the course of the year, Freeport-McMoRan Inc shares have jumped approximately 2.85%. Shares of the company reached a 52-week high of $40.94 on 01/21/25 and a 52-week low of $37.19 on 01/03/25. A 50-day SMA is recorded $41.52, while a 200-day SMA reached $46.19. Nevertheless, trading volume fell to 15.87 million shares from 16.56 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 38.57, which, if violated, would cause prices to drop to 38.06. In the upper region, resistance lies at 40.05. The next price resistance is at 41.02. RSI (Relative Strength Index) is 42.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.71, which suggests the price will decrease in the coming days. Percent R is at 49.27%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
