Today’s Research Reports on Trending Tickers: Freeport-McMoRan and Albemarle Corporation
U.S. markets fell Tuesday on slumping commodity prices, with U.S. crude oil posting its largest one day drop in over a month. The Dow Jones Industrial Average declined 0.13 percent to close at 23,409.47, while the S&P 500 Index fell 0.23 percent to close at 2,578.87. The Nasdaq Composite Index dropped 0.29 percent to close at 6,737.87. On Tuesday, the International Energy Agency said the recent rally in crude oil prices could be short-lived and global demand will be weaker-than-expected for the rest of the year and next.
“Since Friday, the theme has been deleveraging and taking risk off the table,” said Larry Peruzzi, managing director of international equity trading at Mischler Financial, according to The Wall Street Journal. “Part of it has been profit-taking and part of it has been uncertainty with taxes and Washington.”
RDI Initiates Coverage on:
Freeport-McMoRan, Inc.’s stock moved 4.37% lower Tuesday, to close the day at $13.80. The stock recorded a trading volume of 27,677,701 shares, which was above its three months average volume of 17,687,981 shares. In the last year Freeport-McMoRan, Inc.’s shares have traded in a range of 11.05 – 17.06. The share price has gained 24.89% from its 52 week low. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $14.50 is greater than its 200-day moving average of $13.43. Shares of the company are trading at a Price to Earnings ratio of 19.46. Shares of Freeport-McMoRan have fallen roughly 6.44 percent in the past month and are up 4.62 percent year-to-date.
Access RDI’s Freeport-McMoRan, Inc. Research Report at:
On Tuesday, shares in Albemarle Corporation recorded a trading volume of 1,715,612 shares, which was above the three months average volume of 1,264,787 shares. The stock ended the day 3.99% lower at 137.65. The share price has gained 78.19% from its 52 week low with a 52 week trading range of 77.25 – 144.99.The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $138.35 is greater than its 200-day moving average of $120.59. Shares of the company are trading at a Price to Earnings ratio of 17.60. Shares of Albemarle have fallen roughly 0.93 percent in the past month and are up 59.91 percent year-to-date.
Access RDI’s Albemarle Corporation Research Report at:
Our Actionable Research on Freeport-McMoRan, Inc. (NYSE:FCX) and Albemarle Corporation (NYSE:ALB) can be downloaded free of charge at Research Driven Investing.
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