Basic Materials Stocks Under Review -- Freeport-McMoRan, Alcoa, Century Aluminum, and Southern Copper

Aug 29, 2016, 07:30 ET from Chelmsford Park SA

NEW YORK, August 29, 2016 /PRNewswire/ -- today has issued research reports on Freeport-McMoRan Inc. (NYSE: FCX), Alcoa Inc. (NYSE: AA), Century Aluminum Co. (NASDAQ: CENX), and Southern Copper Corp. (NYSE: SCCO). These companies belong to the Basic Materials sector which is engaged in the exploration, production, and development of natural resources. On August 18, 2016, research firm Charles Schwab has held its "Market Perform" rating on the sector due to a generally positive economic condition in the U.S. and a slightly improving European economy. Learn more about these stocks by downloading their free research reports in PDF format at:


Last Friday at the close, shares in Phoenix, Arizona headquartered Freeport-McMoRan Inc. ended 1.80% lower at $10.89. The stock recorded a trading volume of 32.80 million shares. The Company's shares have advanced 60.86% on an YTD basis. The stock is trading above its 200-day moving average by 15.51%. Furthermore, shares of Freeport-McMoRan, which acquires, explores, and develops mineral assets, and oil and natural gas resources, have a Relative Strength Index (RSI) of 35.75.

On August 9th, 2016, Reuters reported that Indonesia's mining ministry recommended that Freeport-McMoran's Indonesian unit be granted a new permit to export copper concentrates until January, 11, 2017. The recommended extension was slightly shorter than the six months the U.S. mining giant had requested. As per the article, Bambang Gatot, the ministry's director general of coal and minerals, said, "The export volume (in the recommendation) is 1.4 million tonnes, as they requested, but they might not be able to sell that much," while adding that all shipments are subject to a 5 percent export tax. Freeport, which produces about 220,000 tonnes of copper ore a day, still has to take the recommendation to Indonesia's trade ministry to get the permit. Sign up and read the free research report on FCX at:


New York-based Alcoa Inc.'s stock finished Friday's session 0.79% lower at $10.00 with a total volume of 15.05 million shares traded. The Company's shares have advanced 7.26% over the previous three months and 2.35% since the start of this year. The stock is trading above its 200-day moving average by 7.50%. Additionally, shares of Alcoa, which engages in engineering and manufacturing lightweight metals worldwide, have an RSI of 45.60.

On August 24th, 2016, Alcoa announced that it has named Kate Hargrove Ramundo Executive Vice President, Chief Legal Officer and Corporate Secretary of the future Arconic Inc., a role which will take effect upon the Company's separation later this year. Ramundo will succeed Audrey Strauss, Alcoa Executive Vice President, Chief Legal Officer and Corporate Secretary, who plans to retire at the completion of Alcoa's separation. The complimentary research report on AA can be downloaded at:

Century Aluminum  

Shares in Chicago, Illinois headquartered Century Aluminum Co. ended the session 4.58% lower at $6.46. A total volume of 3.46 million shares was traded, which was above their three months average volume of 1.97 million shares. The stock has gained 46.15% on an YTD basis and is trading above its 200-day moving average by 7.11%. Moreover, shares of Century Aluminum, which together with its subsidiaries, produces primary aluminum in the US and Iceland, have an RSI of 42.72.

On July 28th, 2016, Century Aluminum reported a net loss of $9.5 million ($0.11 per share) for Q2 2016 compared to net loss of $33.9 million ($0.39 per share) in Q2 2015. The company noted that sales for Q2 2016 were $326.8 million compared to $523.5 million for Q2 2015. Century Aluminum's shipments of primary aluminum for the Q2 2016 were 185,567 tonnes compared to 233,950 tonnes shipped in Q2 2015. Net cash provided by operating activities in Q2 2016 was $8.7 million. Register for free on and access the latest report on CENX at:

Southern Copper  

Phoenix, Arizona-based Southern Copper Corp.'s shares recorded a trading volume of 1.11 million shares. The stock closed 0.46% higher at $26.13. The Company's shares have gained 0.54% in the past month and 0.53% since the start of this year. The stock is trading 0.22% below its 200-day moving average. 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 49.84.

On August 26th, 2016, research firm HSBC Securities upgraded the Company's stock rating from 'Hold' to 'Buy'. Get free access to your research report on SCCO at:


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