Looking At Freeport-McMoRan's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been observed for Freeport-McMoRan (NYSE:FCX), with a bullish stance taken by a majority of investors. The targeted price range for the company over the last three months has been between $25.0 and $49.0. The company's stock price is currently down by 2.38% at $35.61. Morgan Stanley has maintained their Equal-Weight rating on Freeport-McMoRan with a price target of $44, while JP Morgan has downgraded its action to Neutral with a price target of $42.
October 18, 2023 | 8:16 pm
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Freeport-McMoRan has seen unusual options activity, with a majority of investors taking a bullish stance. The stock price is currently down by 2.38% at $35.61. Analysts have mixed views, with Morgan Stanley maintaining an Equal-Weight rating and a price target of $44, while JP Morgan has downgraded its action to Neutral with a price target of $42.
The unusual options activity indicates that investors are taking a bullish stance on Freeport-McMoRan, which could potentially drive the stock price up in the short term. However, the current stock price is down, and analysts have mixed views, which adds uncertainty to the potential impact on the stock price.
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IMPORTANCE 80
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