Home 2021 Sitting on a Cash Pile 11.0? Strong Economic Growth Begets Demand for Natural Resources

Sitting on a Cash Pile 11.0? Strong Economic Growth Begets Demand for Natural Resources

by Paul Ebeling

#cash #bullish #buy


Freeport McMoRan Inc. (NYSE:FCX) broke out on 26 May 2020 at 9.26 and confirmed on 16 February 2021 at 32.90, reiterating LTNs Cash Pile Buy rating, with a price target at 63/share.

The Key support is at 41.81 and the resistance is NIL. Our Key technical indicators are flashing Very Bullish in here

FCX’s 52-wk trading range is 4.82 33.97, and shares are trading at 33.08 pre-market in NY Wednesday.

Our overall technical outlook for FCX is Bullish across the board.

Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia.

The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as Oil & Gas.

Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.

The company also operates a portfolio of Oil & Gas properties primarily located in offshore California and the Gulf of Mexico.

As of 31 December 2019, it estimated consolidated recoverable proven and probable mineral reserves totaled 116-B lbs of copper, 29.6-M oz of gold, and 3.58-B lbs of molybdenum, as well as operated approximately 210 wells.

The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014.

Freeport-McMoRan Inc. was founded in Y 1987 and is HQ’d in Phoenix, Arizona.

Have a healthy day, Keep the Faith!

You may also like


Your Trusted Source for Capital Markets & Related News

© 2024 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.