Check Out What Whales Are Doing With FCX
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Freeport-McMoRan (NYSE:FCX) by a large investor or institution. This was noticed through publicly available options history. The overall sentiment of these big-money traders is split between 33% bullish and 66% bearish. The whales have been targeting a price range from $33.0 to $42.0 for Freeport-McMoRan over the last 3 months. Bernstein downgraded its action to Market Perform with a price target of $41, while Morgan Stanley maintained their Equal-Weight rating with a price target of $38.
July 03, 2023 | 6:01 pm
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A large investor has taken a bearish stance on Freeport-McMoRan, with big-money traders sentiment being 66% bearish. The price target range is $33-$42. Bernstein downgraded its action to Market Perform with a price target of $41, while Morgan Stanley maintained their Equal-Weight rating with a price target of $38.
The bearish stance taken by a large investor or institution on Freeport-McMoRan, along with the overall bearish sentiment of big-money traders, indicates a potential decrease in the stock's price in the short term. The downgrade by Bernstein and the maintained Equal-Weight rating by Morgan Stanley further support this prediction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100