The company has a 50-day moving average of $11.65 and a 200 day moving average of $17.90.
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Unfortunately, even the energy industry is getting crushed by dramatically lower prices and Freeport-McMoRan is being dragged down by its twin anchors of Plains Exploration and McMoRan Exploration.
FCX has been the subject of a number of other research reports. Finally, Jefferies Group reiterated a buy rating and set a $28.00 price target on shares of Freeport-McMoRan in a research report on Monday, May 18th.
Sept 4 Mining company Freeport-McMoRan Inc has hired JPMorgan Chase & Co to help it explore options, a person familiar with the matter said on Friday, after activist investor Carl Icahn called the company undervalued and asked for corporate changes. Freeport-McMoRan’s revenue for the quarter was down 23.1% compared to the same quarter previous year.
Company shares opened the most recent trading session at 10.0700 and at the time of writing the last Bid was at 9.8657.
7/23/2015 – Freeport-McMoRan had its “buy” rating reaffirmed by analysts at Morgan Stanley. They now have a $22.00 price target on the stock.
Freeport-McMoRan Inc (FCX) current short interest stands at 61.92 million shares. (NYSE:FCX) at 1.96. Research Analysts at Zacks have ranked the company at 3, suggesting the traders with a rating of hold for the short term. 8,506,953 shares of the stock were exchanged. The 52-week high of the share price is $36.48 and the 52-week low is $7.76.
Codelco announced half year results on Friday that showed profits dropping by a third to $875 million despite an increase in production of 5.5% compared to last year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Stockholders of record on Wednesday, July 15th were issued a dividend of $0.1605 per share. The Ex-Dividend date, which is often the most important to investors, would be 2015-07-13.
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The El Abra mine located in Atacama region, represents one of the largest copper reserves in Chile has estimated reserves of 725 million tonnes of ore grading 0.44% copper. The transaction was executed at $20.52 per share with total amount equaling $1,231,200. The cozy relationship between the three companies also didn’t sit well with investors: Not only was McMoRan’s CEO also Freeport’s chairman, but Plains also owned a third of McMoRan’s stock. The disclosure for this purchase can be found here. FCX has organized its operations into six main divisions: North America copper mines, South America mining, Indonesia mining, Africa mining, Molybdenum mines, and United States gas and oil operations. The Company’s portfolio of assets includes the Grasberg minerals district in Indonesia, mining operations in North and South America, the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC) in Africa, and oil and natural gas assets in North America. The Organization can be engaged in operating copper conversion facilities situated in North America, along with a refinery, three rod factories plus a specialty copper products facility. The Company’s Atlantic Copper smelts and refines copper concentrates and markets precious metals and processed copper in slimes.
