In the 'for what it's worth' column, top FCX management is once again buying lots of shares on the open market. Last time I posted on FCX, top management bought a couple million shares and the stock promptly went on a ten point run, from the high 20's to the high 30's... This time however, they have lot's more debt due to their oil company buy when oil was much higher, so keep that in mind...
Friday 12/12 Insider Buying Report: FCX, CCI
By BNK Invest, December 12, 2014, 12:59:28 PM EDT
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Thursday, Freeport-McMoran Copper & Gold
(FCX)'s Vice Chairman of the Board, James C. Flores, made a $11.8M buy of FCX, purchasing 500,000 shares at a cost of $23.60 a piece. Investors have the opportunity to grab FCX even cheaper than Flores did, with shares trading as low as $22.54 in trading on Friday -- that's 4.5% under Flores's purchase price. Freeport-McMoran Copper & Gold is trading down about 1.1% on the day Friday.
Read more: nasdaq.com |
