Among the biggest risers on the S&P 500 on Monday December 09 was Freeport-McMoRan Inc. ($FCX), popping some 3.95% to a price of $12.10 a share with some 31.05 million shares trading hands.
Starting the day trading at $11.78, Freeport-McMoRan Inc. reached an intraday high of $12.25 and hit intraday lows of $11.74. Shares gained $0.46 apiece by day’s end. Over the last 90 days, the stock’s average daily volume has been n/a of its 1.45 billion share total float. Today’s action puts the stock’s 50-day SMA at $n/a and 200-day SMA at $n/a with a 52-week range of $8.43 to $14.68.
Freeport-McMoRan Inc mines more copper than any other publicly traded company in the world. Its assets include the Indonesian Grasberg mining complex, the world’s largest copper and gold mine in terms of recoverable reserves. Freeport also has significant mining operations in the Americas.
Freeport-McMoRan Inc. has its corporate headquarters located in Phoenix, AZ and employs 26,800 people. Its market cap has now risen to $17.56 billion after today’s trading, its P/E ratio is now n/a, its P/S n/a, P/B 1.86, and P/FCF n/a.
The Dow Jones Industrial Average (DJIA) is the most visible stock index in the United States, but that doesn’t make it the best. In fact, the industry standard for market watchers and institutional investors in gauging portfolio performance is the S&P 500.
The DJIA relies on just 30 stocks as a sample of large- and mega-cap firms, dwarfed by the 500 contained in the S&P 500, and it also weights its returns using an outdated and flawed price-weighting method. The S&P 500’s weighting is based on market cap, making it a much better representation of actual market performance for large- and mega-cap stocks.