NEW YORK, October 14, 2016 /PRNewswire/ --
Stock-Callers.com has issued research reports on the following Basic Materials equities: Freeport-McMoRan Inc. (NYSE: FCX), Alcoa Inc. (NYSE: AA), Century Aluminum Co. (NASDAQ: CENX), and Southern Copper Corp. (NYSE: SCCO). According to financial research firm FactSet, the sector is expected to report earnings growth of 3.9% in Q3 - the third highest earnings growth out of the eleven sectors of the S&P 500. Learn more about these stocks by downloading their free research reports in PDF format at:
Phoenix, Arizona headquartered Freeport-McMoRan Inc.'s shares saw a drop of 4.08% and finished Thursday's trading session at $9.64. A total volume of 47.86 million shares was traded, which was above their three months average volume of 28.88 million shares. Since the start of this year, the stock has advanced 42.39%. The Company's shares are trading below their 200-day moving average by 2.44%. Moreover, shares of Freeport-McMoRan, which acquires, explores, and develops mineral assets, and oil and natural gas resources, have a Relative Strength Index (RSI) of 37.63.
On September 28th, 2016, Freeport-McMoRan announced the expiration of the previously announced consent solicitations by it and its wholly owned subsidiaries, Freeport-McMoRan Oil & Gas LLC (FM O&G) and FCX Oil & Gas Inc. (FCX O&G). As of the expiration time, FCX, FM O&G and FCX O&G had not received the consent of holders of at least a majority in aggregate principal amount outstanding of each series of notes subject to the consent solicitations. As a result, no consent fees will be paid and FCX plans to merge FM O&G into FCX prior to completing its previously announced Deepwater Gulf of Mexico sale transaction.
On October 03rd, 2016, research firm Deutsche Bank upgraded the Company's stock rating from 'Hold' to 'Buy'. The research firm also revised upwards its previous target price from $12 to $12.50. Sign up and read the free research report on FCX at:
On Thursday, shares in New York-based Alcoa Inc. recorded a trading volume of 12.83 million shares, which was above their three months average volume of 6.34 million shares. The stock ended the session 1.33% lower at $26.75. The Company's shares are trading 5.77% below their 200-day moving average. Furthermore, shares of Alcoa, which engages in engineering and manufacturing lightweight metals worldwide, have an RSI of 31.64.
On October 11th, 2016, Alcoa reported net income of $166 million, or $0.33 per share; and excluding special items, adjusted net income of $161 million, or $0.32 per share, for Q3 2016. Revenue for Q3 2016 came in at $5.2 billion, down 6% on y-o-y basis. Sales of non-essential assets expected to total $1.2 billion during 2016; $935 million received year-to-date, strengthening the balance sheet. The company reported $1.9 billion cash on hand at the end of Q3 2016 and strong productivity gains of $377 million, year-over-year, across all segments.
Yesterday, research firm Cowen reiterated its 'Market Perform' rating on the Company's stock with an increase of the target price from $10 a share to $30 a share. The complimentary research report on AA can be downloaded at:
Shares in Chicago, Illinois headquartered Century Aluminum Co. closed the day at $7.37, slightly down 0.94% from the previous trading session. The stock recorded a trading volume of 1.59 million shares. The Company's shares have surged 28.85% in the last one month and 66.74% on an YTD basis. The stock is trading 9.68% above its 50-day moving average and 13.70% above its 200-day moving average. Additionally, shares of Century Aluminum, which together with its subsidiaries, produces primary aluminum in the US and Iceland, have an RSI of 63.04.
On October 05th, 2016, Century Aluminum announced that it will report Q3 2016 earnings on October 27th, 2016, after the close of the market. The company will hold a follow-up conference call on October 27th, 2016 at 5:00 p.m. ET. Register for free on Stock-Callers.com and access the latest report on CENX at:
At the closing bell yesterday, shares in Phoenix, Arizona-based Southern Copper Corp. ended 1.46% lower at $26.27, with a total trading volume of 544,049 shares. The stock has advanced 3.67% in the last one month and 1.07% since the start of this year. The Company's shares are trading above their 50-day and 200-day moving averages by 0.80% and 0.11%, respectively. Furthermore, shares of Southern Copper, which engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Chile, and Ecuador, have an RSI of 51.06. Get free access to your research report on SCCO at:
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