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Shares of Freeport-Mcmoran Fall to a New 52-Week Low

By David Diaz

Freeport-Mcmoran (NYSE:FCX) traded today at a new 52-week low of $9.30. Approximately 2.7 million shares have changed hands today, as compared to an average 30-day volume of 18.8 million shares.

There is potential upside of 101.8% for shares of Freeport-Mcmoran based on a current price of $9.30 and an average consensus analyst price target of $18.76. The stock should find initial resistance at its 50-day moving average (MA) of $10.91 and further resistance at its 200-day MA of $11.57.

In the past 52 weeks, Freeport-Mcmoran share prices have been bracketed by a current low of $9.30 and a high of $15.26 and are now at $9.30. The 200-day and 50-day moving averages have moved 0.21% lower and 0.22% lower over the past week, respectively.

Freeport-McMoRan Inc. is an international natural resources company. The Company operates large, long-lived, geographically diverse assets with significant reserves of copper, gold, molybdenum, cobalt, oil, and gas.

SmarTrend is monitoring the recent change of momentum in Freeport-Mcmoran. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Freeport-Mcmoran in search of a potential trend change.

Keywords: 52 week high/lows freeport-mcmoran

Ticker(s): FCX