Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

A Trio Of Freeport-McMoRan Copper & Gold Inc. (FCX) Indicators To Watch

Page 1 of 2

In the financial blogosphere, there are a multitude of indicators for Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) readers to track, but it is smart to take note of a stock’s short sellers. Two indicators we can use are: (a) the percentage of a stock’s float that bears are currently short selling, plus (b) the change in short interest.

Increased shorting usually means what it implies: the market’s big players have turned less fond of a company. Overselling, though, sometimes has a bullish effect on share price, as short sellers may be forced to buy their shares.

Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX)

Within our database, it’s not a secret that we monitor the smart money’s interest, but it’s eqaully as beneficial to group this data with aggregate short interest data. In some high-profile cases, large investors could disclose that they’re short on a stock, but it’s not an SEC requirement. Nonetheless, some individual investors may want to stay away from heavily shorted equities with above-average hedgie interest, while others may prefer short-squeeze plays. For traders wanting a market-beating piggybacking strategy, discover the details of our premium strategy.

With that in mind, let’s take a look at the latest data surrounding Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX).

Tracking the most recent FINRA data, which is reported twice a month, we can discover that Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) sports a short interest of 4.30% of float. This indicates a 0.6% change from the previous month. With a total float of 40.91M shares, this represents a short ratio of 2.00.

It is also crucial to monitor hedge fund sentiment from their 13F forms. According to our data, Doug Silverman and Alexander Klabin’s Senator Investment Group had the most valuable call position in Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), worth close to $331 million, comprising 3.9% of its total 13F portfolio. In the second spot is Paulson & Co, managed by John Paulson, which held a $297.9 million position; 1.7% of its 13F portfolio is allocated to the company. Some other peers that hold long positions include D. E. Shaw’s D E Shaw, Leon Cooperman’s Omega Advisors and Phill Gross and Robert Atchinson’s Adage Capital Management.

Also, insider buying is best served when the company in focus has experienced transactions within the past half-year. Over the last half-year time frame, Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) has seen 1 unique insiders buying, and zero insider sales (see the details of insider trades here).

Let’s go over activity in other stocks similar to Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX). These stocks are Lihua International Inc (NASDAQ:LIWA), Augusta Resource Corp. (USA) (NYSEAMEX:AZC), Sterlite Industries India Limited (ADR) (NYSE:SLT), , and Southern Copper Corp (NYSE:SCCO). All of these stocks are in the copper industry and their market caps are similar to FCX’s market cap.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!