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.
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!
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