| Freeport-McMoRan Rally Continues After Icahn Discloses Stake | |
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Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show. Freeport-McMoRan Inc (NYSE: FCX) shares were trading higher by $0.25 (2 percent) at $10.44 in Friday's session. After a big day on Thursday in the frenzied buying of commodity-related stocks. the issue received another boost when Carl Icahn disclosed in Schedule 13D filing a stake in the company. After rallying on Thursday from $7.92 to $10.19, the issue traded up to $11.48 off the open before succumbing to profit-taking resulting in a pullback under $11. That level is just above the pair of highs from August 6 ($11.30) and August 7 ($11.25). So far, it has fallen to $10.31 before rebounding back to $10.50. This is the second day in a row of heavier than average volume. On Thursday, it traded 10.8 million shares and has already traded 8.13 million shares today compared with its 50-day average of 7.18 million. See more from Benzinga © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Freeport McMoRan Copper and Gold Inc.
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PRODUCER |
CODE : FCX |
ISIN : US35671D8570 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Freeport McMoran is a gold and copper producing company based in United states of america. Freeport McMoran produces gold, copper, cobalt, molybdenum and silver in Chile, in Congo Dem. Rep. of, in Indonesia and in Peru, develops copper in Peru, and holds various exploration projects in Chile. Its main assets in production are CANDELARIA, EL ABRA, CHINO - MILL, HENDERSON, MIAMI - ROM LEACH, MORENCI - MILL, OJOS DEL SALADO, MORENCI and MORENCI - ROM LEACH in Chile, GRASBERG, SIERRITA and BAGDAD in Indonesia, TENKE FUNGURUME and TYRONE in Congo Dem. Rep. of and CERRO VERDE in Peru, its main asset in development is SAFFORD in Peru and its main exploration properties are BAGDAD - ROM LEACH and CHINO - ROM LEACH in Peru and CERRO VERDE - MILL, CERRO VERDE - CRUSHED LEACH, CERRO VERDE - ROM LEACH, EL ABRA - ROM LEACH and CLIMAX in Chile. Freeport McMoran is listed in Germany and in United States of America. Its market capitalisation is US$ 71.5 billions as of today (€ 66.8 billions). Its stock quote reached its lowest recent point on March 06, 2020 at US$ 10.00, and its highest recent level on April 25, 2024 at US$ 49.40. Freeport McMoran has 1 448 000 000 shares outstanding. |