Freeport McMoRan Shares Down, Options Activity Moderately Bullish
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
Moderately bullish activity in Freeport McMoRan (FCX), with shares down 68c near $63.69. Options volume relatively light with 8668 contracts traded and calls leading puts for a put/call ratio of 0.39, compared to a typical level near 0.5. Implied volatility (IV30) is higher by 0.9 points near 53.15,in the top quartile of the past year, suggesting an expected daily move of $2.13. Put-call skew flattened, suggesting a modestly bullish tone.
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Analyst Views on FCX
Wall Street analysts forecast FCX stock price to fall
15 Analyst Rating
13 Buy
2 Hold
0 Sell
Strong Buy
Current: 67.040
Low
46.00
Averages
58.79
High
70.00
Current: 67.040
Low
46.00
Averages
58.79
High
70.00
About FCX
Freeport-McMoRan Inc. is a metals company. The Company operates assets with reserves of copper, gold and molybdenum. Its portfolio of assets includes the Grasberg minerals district in Indonesia, which is a copper and gold deposit; and operations in the United States, including the large-scale Morenci minerals district in North America and the Cerro Verde operation in South America. Its segments include Cerro Verde copper mine, Indonesia operations and United States Rod & Refining operations. It produces copper concentrate, cathode and continuous cast copper rod. Its copper ore from mines is processed by smelting and refining or by solution extraction and electrowinning (SX/EW). It produces copper cathodes at an electrolytic refinery located in El Paso, Texas. The SX/EW cathode is produced from the Morenci, Bagdad, Safford, Sierrita, Miami, Chino and Tyrone mines in the United States, and from the Cerro Verde and El Abra mines in South America.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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