Home / Basic Materials / Freeport-McMoRan Inc. (FCX) Climbs 4.08% Gain on September 22 to Lead Basic Materials Sector

Freeport-McMoRan Inc. (FCX) Climbs 4.08% Gain on September 22 to Lead Basic Materials Sector

Freeport-McMoRan Inc. (FCX) was one of the best performers amongst all companies listed in the basic materials sector on the NYSE and NASDAQ exchanges during trading on September 22, climbing 4.08% to wrap the day at $10.97 after closing the day prior at $10.54. Throughout the trading session, shares of FCX rose as high as $11.13 and dipped as low as $10.82. Today’s advance came with about 35.62 million shares changing hands, compared to an average 30-day volume of 28.67 million for Freeport-McMoRan Inc.. The price is currently below the 30-day volume weighted average price of $10.98 for FCX.

The share appreciation today gives the company a market capitalization of $14.0 billion based upon 1.33 billion shares outstanding. It also means that FCX has a price-to-book ratio of 3.5:1.

In the past 52 weeks, shares of FCX have traded as low as $3.52 and as high as $14.2. Technical traders will take note that at $10.97, shares of FCX are trading above their 200-day MA at $9.6 and below their 50-day MA at $11.64. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is FCX?

Freeport-McMoRan Inc is a U.S. natural resources company with portfolio of mineral assets and oil and natural gas resources. Its segments are North America copper mines, South America mining, Indonesia mining, Africa mining and Molybdenum mines. The company’s 34500 employees are led by CEO Richard C. Adkerson from the corporate headquarters at 333 North Central Avenue in Phoenix, AZ.

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