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Freeport-McMoRan Inc. Message Board

  • iroc88joe1234 iroc88joe1234 Jul 15, 2013 10:11 PM Flag

    CEO and president of Freeport-McMoRan Oil & Gas, just bought 1 million shares of his company's stock

    The company I'd like to take a look at today is Freeport-McMoRan Copper & Gold (FCX).

    According to regulatory filings, James C. Flores, CEO and president of Freeport-McMoRan Oil & Gas, just bought 1 million shares of his company's stock. To be clear -- this was not an "acquisition" or an exercise of stock options -- this was a buy order. So the questions that immediately arise are "Why now?" and "What does the future look like for the company?"

    Sentiment: Buy

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    • Iroc - this occurred about 6 weeks ago after Flores's company, PXP, was bought by FCX. The stock was also bought at over $31/share. So his timing could have been better. You have great questions, which were also raised on this board when it happened. Right now only time will tell. Hopefully we will get a glimpse of it at earnings.

 
FCX
12.67+0.01(+0.08%)Jul 22 4:02 PMEDT