Freeport-McMoRan Shares Sinking Lower, Down 1.2%

Published on Fri, 05/29/2015 - 12:25
By Robert Cotter in Market movers, FCX, freeport-mcmoran, market movers, nyse:fcx

Freeport-McMoRan (NYSE:FCX) is one of today's notable stocks in decline, down 1.6% to $19.84. The S&P is currently trading 0.5% lower to 2,111 and the Dow Jones Industrial Average is trading 0.6% lower to 18,026.

Potential upside of 28.2% exists for Freeport-McMoRan, based on a current level of $19.84 and analysts' average consensus price target of $25.44. The stock should find initial resistance at its 50-day moving average (MA) of $20.67 and further resistance at its 200-day MA of $25.22.

Freeport-McMoRan Copper & Gold, Inc., through its subsidiary, is a copper, gold and molybdenum mining company. The Company primarily mines for copper and owns mining interests in Chile and Indonesia. Freeport-McMoRan Copper & Gold also, through a subsidiary, is involved in smelting and refining of copper concentrates.

Freeport-McMoRan share prices have moved between a 52-week high of $39.32 and a 52-week low of $16.43 and are now trading 21% above that low price at $19.84 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 1%.

By Robert Cotter
rcotter@fnno.com

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