Freeport-McMoRan (NYSE:FCX) broke out on 26 May at 9.26 and confirmed on 12 November at 19.52 with in its 52 wk trading range of 4.82 – 21.29
Our Key technical indicators have turned Very Bullish across the board.
The Strong support is at 16.67, the resistance is NIL
Our target price is 28.42 into Y 2021
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 Crude Oil and Nat 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 and 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 ounces of gold, and 3.58-B lbs of molybdenum, as well as operated approximately 210 oil and gas 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.
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