Freeport-McMoRan Offering Possible 6.16% Return Over the Next 24 Calendar Days

Freeport-McMoRan's most recent trend suggests a bearish bias. One trading opportunity on Freeport-McMoRan is a Bear Call Spread using a strike $34.00 short call and a strike $39.00 long call offers a potential 6.16% return on risk over the next 24 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $34.00 by expiration. The full premium credit of $0.29 would be kept by the premium seller. The risk of $4.71 would be incurred if the stock rose above the $39.00 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Freeport-McMoRan is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for Freeport-McMoRan is bearish.

The RSI indicator is at 24.87 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for Freeport-McMoRan

Freeport Awaiting Indonesian Permit to Ship Copper Concentrates
Wed, 29 Jan 2014 12:20:28 GMT
Bloomberg – Freeport-McMoRan Copper & Gold Inc. (FCX) , owner of the world’s second-largest copper mine, has yet to begin concentrate shipments from Indonesia as it awaits permits more than two weeks after the government set new export rules. Freeport is in discussions with the Indonesian government to resume sales from its Grasberg mine and resolve issues related to export duties, Chief Executive Officer Richard Adkerson said after meeting Industry Minister M.S. Hidayat. More from Bloomberg.com: Apple Lineup Reaching Sales Ceiling Puts Pressure on Cook Indonesia banned exports of all raw mineral ores including nickel and bauxite from Jan. 12 while allowing shipments of some processed minerals such as copper concentrate as part of a wider policy to boost revenue by turning the country into a manufacturer of higher-value products.

Investor Hodges Bets on Coal, Iron and U.S. Consumer (Audio)
Tue, 28 Jan 2014 20:54:16 GMT
Bloomberg – Don Hodges, founder and chairman of Dallas-based Hodges Capital Management, says he is interested in coal, iron and copper mining stocks in 2014. He says those stocks are good long-term investments. Other …

4 Reasons To Buy Freeport-McMoRan If Stock Drops Below $30
Tue, 28 Jan 2014 10:27:12 GMT
Seeking Alpha – Shares of Freeport-McMoRan ( FCX ) are on a downtrend that began in November 2013. After bottoming last summer, macroeconomic headwinds, weaker than expected quarterly results, and surprise export ban …

Freeport-McMoRan Held at Neutral
Mon, 27 Jan 2014 20:20:04 GMT
Zacks – We have reiterated our Neutral recommendation on Freeport-McMoRan.

As smelters weigh cost, Indonesia's ore export ban may backfire
Mon, 27 Jan 2014 04:05:27 GMT
Reuters – JAKARTA/SYDNEY, Jan 27 (Reuters) – Indonesia's ban on exports of key mineral ores – unless they are processed in the country – risks backfiring as weaker commodity prices mean it is not cost-effective to invest in expensive smelters and refineries. In terms of jobs, smelters are not big employers, and offer only a small return on high investment.

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