Here’s Why Freeport-McMoRan Inc Stock Trades Down Today
As of December 31, 2014, its consolidated recoverable proven and probable mineral reserves included 103.5 billion pounds of copper, 28.5 million ounces of gold, 3.11 billion pounds of molybdenum, 282.9 million ounces of silver, and 0.85 billion pounds of cobalt; and its estimated proved oil and natural gas reserves totaled 390 million barrels of oil equivalents. On average, equities research analysts expect that Freeport-McMoRan will post ($0.14) earnings per share for the current fiscal year. When comparing the stock’s current price with its 52-week high of 23.97 and 52-week low of 3.65 shows that the stock is trading -81.85% and +19.18% away from the two levels respectively.
With 3,000 stocks making up the index, it gives a broad look at the markets, including the small-and mid-cap companies that aren’t on the Dow or the S&P 500. The stock has a 50-day moving average of $6.51 and a 200 day moving average of $10.41. Last quarter, Freeport-McMoran, Inc. During the same quarter past year, the business posted $0.64 EPS. Jefferies Group cut Freeport-McMoRan from a “buy” rating to a “hold” rating and set a $5.00 target price on the stock.in a research report on Tuesday, January 12th.
Freeport’s stock has fallen 36 percent this month hammered by falling prices for copper and oil, which the company also produces. Vetr raised shares of Freeport-McMoRan from a “buy” rating to a “strong-buy” rating and set a $4.43 target price on the stock in a research note on Wednesday, January 13th. In fact, you buy stocks the same way you do now… but with one simple difference. In 1981, Mr. Moffett led the effort to merge McMoRan Oil & Gas Co. and Freeport Minerals Company.
The Jakarta Globe reports her saying Jakarta is still interested, adding that SOE companies should have big mines and that these mines belong to Indonesia. Its portfolio of assets includes the Grasberg minerals district in Indonesia, mining operations in North and South America, and the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC).
The company headquartered in downtown Phoenix, Arizona, has always been engaged in the American ventures which enabled it to get a hold on the West in the nineteenth century facilitating it to find noticeable amount of copper and gold deposits lying in the world’s remotest locations. It also operates Atlantic Copper, its wholly owned copper smelting and refining unit in Spain.