One natural resources player that insiders are active in here is Freeport-McMoRan (FCX - Get Report), which engages in the acquisition of mineral assets, and oil and natural gas resources. Insiders are buying this stock into massive weakness, since shares have plunged by 61% over the last three months.
Freeport-McMoRan has a market cap of $8.1 billion and an enterprise value of $32.9 billion. This stock trades at a cheap valuation, with a forward price-to-earnings of 4#$%$ estimated growth rate for this year is -77.6%, and for next year it's pegged at 279.5%. This is not a cash-rich company, since the total cash position on its balance sheet is $466 million and its total debt is $20.9 billion. This stock currently sports a dividend yield of 2.1%.
All Yellen has to do to kill the Chinese currency is increase money supply and money velocity. Fire up the printing presses......... :)
The Street rated it as a sell a few minutes ago, that's why it couldn't hold its gain. When Cramer rates something as a sell, that means they are trying to drive it down a few more pennies before they cover their short positions. Another words, when Cramer says sell, it's almost at bottom and time to buy...... :)
They missed on revs. 3.2 actual compared to3.32 est. Wall street will make them pay tomorrow. All tech companies that have missed on revs have been severely punished this earnings season.....
Not insider information, those 10 wells were also drilled relatively at a cheap cost. Every successful well they drill at a cheaper cost also lowers their overall cost to get it out of the ground. For example, like Kathy said, it is costing them 70.00 a barrel right now. The more cheaper wells they drill, it may only cost them 60.00 a barrel to get it out of the ground in the future. FCX's O&G venture is a huge drag on FCX, but manageable. FCX is still one of the largest miners on the planet and will not only survive, but thrive. FCX will come out of this stronger than ever before....
Urban, Combes CEO made a lot of large firms very upset and mad by giving away ALU to NOK and I mean GIVE away. Those same large firms are going to continue to punish NOK for it. Even if NOK beats on every metric, I still think the share price will continue to drift lower. If they miss on any metric, NOK will get hammered. I am now out of both as of last week after I heard NOK was only going to get 2.7 B for HERE MAPS. This is a Chinese reverse merger, which means NOK is going to issue more than half of its market cap in new shares to purchase ALU diluting NOK in half, no cash. After that, NOK will do a reverse stock split to get its share price back up to normal levels, instead of share buyback. Criticize me all you want and give me many thumbs down, but if you have any profit in this stock at all, I implore you to get out. This will not end well. I know, I've rode similar ventures all the way down. I am not a pumper or a basher, just my honest concerned opinion....... :)
We shall soon see. I bought FCX today at 12.38 a share. At the very least, it is a good short term trade for at least 5-6 dollar a share profit for me. I'm going back to day trading. I make wayyyyy more money day trading than waiting forever for something that will probably not ever materialize. Don't talk to me about long term t3rds, I want to spend my money before I die..............
Confluence of everything that could go wrong in a single day. FCX disappoints, China manufacturing show contraction, USA market opens flat and declines as the day goes on, stop sells kick in and eventually turns into high volume panic selling and capitulation. I bought all I could. Guarantee this stock is 15.00 a share two weeks from now. Yes, I am new to this board, not this stock. I owned this several years ago and never dreamed it would get this low. At the very least it is a good short term trade.............. :)
That my fellow investors and traders are beginning to turn on me because I sold ALU before earnings waiting for NOK and ALU to shoot themselves in the feet again. Maybe I'm right, maybe I'm wrong, but one thing is for sure, one of us is going to have egg on our faces next Friday the 30th........ ;)