NEW YORK, February 15, 2017 /PRNewswire/ --
Stock-Callers.com revisits the Basic Materials sector to see how some stocks have been faring under current market conditions. Lined up for assessment are Freeport-McMoRan Inc. (NYSE: FCX), Arconic Inc. (NYSE: ARNC), Southern Copper Corp. (NYSE: SCCO), and Nevsun Resources Ltd (NYSE MKT: NSU). On February 09th, 2017, research firm Charles Schwab has rated the sector "Market Perform" on factors such as increased demand for raw materials, an accommodative monetary policy, and a reduction in austerity programs. Today's research reports on the aforementioned stocks are downloadable for free upon registration at:
Phoenix, Arizona headquartered Freeport-McMoRan Inc.'s stock finished Tuesday's session 0.38% lower at $15.90 with a total trading volume of 23.41 million shares. Over the last month and the previous three months, the Company's shares have advanced 4.67% and 14.06%, respectively. Additionally, the stock has gained 20.55% since the start of this year. Shares of the Company are trading above their 50-day and 200-day moving averages by 4.65% and 27.77%, respectively. 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 52.13.
On February 03rd, 2017, Freeport-McMoRan announced that its subsidiary, PT Freeport Indonesia, continues to seek approval from Indonesian authorities for the export of its copper concentrates, consistent with its rights under its Contract of Work. The Indonesian government issued new regulations in January 2017 to address exports of unrefined metals, including copper concentrates and anode slimes, and other matters related to the mining sector. The new regulations permit the continuation of copper concentrate exports for a five year period through January 2022, subject to various conditions.
On February 09th, 2017, research firm JP Morgan resumed its 'Neutral' rating on the Company's stock. Visit us today and access our complete research report on FCX at:
Shares in New York-based Arconic Inc. declined 0.44%, ending yesterday's session at $29.52. A total volume of 11.88 million shares was traded, which was above their three months average volume of 5.39 million shares. The stock has surged 40.08% in the past month, 56.93% in the previous three months, and 59.64% on an YTD basis. The Company's shares are trading 35.34% above their 50-day moving average and 36.72% above their 200-day moving average. Moreover, shares of Arconic, which develops and manufactures engineered products for aerospace, industrial gas turbine, commercial transportation, and oil and gas markets, have an RSI of 88.31.
On February 07th, 2017, Arconic stated that Elliott Management has posted no fewer than five versions of its shareholder's presentations during the first week of Elliott's campaign to change management at Arconic. Only two of these presentations have been filed with the US Securities and Exchange Commission. Arconic believes that the rapid succession of revised analyses calls into question Elliott's grasp of Arconic's business and industry. The complimentary report on ARNC can be downloaded at:
On Tuesday, Phoenix, Arizona-based Southern Copper Corp.'s stock saw a slight drop of 0.03%, to close the day at $38.63. A total volume of 1.15 million shares was traded. The Company's shares have advanced 9.51% in the last one month, 18.03% in the previous three months, and 21.20% on an YTD basis. The stock is trading 10.45% and 33.12% above its 50-day and 200-day moving averages, respectively. Additionally, 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 62.38.
On January 31st, 2017, Southern Copper reported that Q4 2016 net sales were $1,398.9 million, 11.5% higher than Q4 2015; mainly due to higher copper prices of 8.1% and sales volume of 0.9%. The Company's Q4 2016 net income was $171.9 million, 182.7% higher than Q4 2015 net income of $60.8 million. The Company's annual copper production in full year 2016 was 900k MT; a new Company record. Register for free on Stock-Callers.com and access the latest research report on SCCO at:
Shares in Vancouver, Canada headquartered Nevsun Resources Ltd ended the day 2.48% lower at $3.15. A total volume of 910,015 shares was traded. The stock has gained 3.58% in the previous three months and 1.94% since the start of this year. The Company's shares are trading above their 200-day moving average by 2.09%. Furthermore, shares of Nevsun Resources, which engages in the acquisition, exploration, development, and operation of mineral properties in Africa, have an RSI of 47.90.
On January 03rd, 2017, Nevsun Resources announced the appointment of Ian W. Pearce and David S. Smith as independent directors. The Company stated that President and CEO, Cliff Davis, has advised he will be retiring during 2017. Accordingly, the Board of Directors has activated its plans for CEO succession. Get free access to your research report on NSU at:
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