Freeport-McMoRan (NYSE:FCX) Recent Short Interest Analysis

From Freeport-McMoRan FCX The percentage of shares outstanding has fallen by 3.97% since its last report. The company recently reported that it has 20.78 million shares sold shortrepresenting 1.45% of all common shares available for trading. Based on trading volume, It would take traders on average 1.64 days to cover their short positions.

Why short-term interest is important

Short interest is the amount of stock that has been sold short but not yet covered or liquidated. Short selling is when a trader sells shares of a company they do not own, hoping that the price will fall. Traders make money from short selling if the stock price falls and lose money if it rises.

It is important to track short positions because they can act as an indicator of market sentiment towards a particular stock. An increase in short positions may indicate that investors have become more pessimistic, while a decrease in short positions may indicate that they have become more optimistic.

See also: List of stocks with the largest short position

Freeport-McMoRan Short Interest Chart (3 Months)

As you can see in the chart above, the percentage of Freeport-McMoRan shares that are shorted has decreased since its last report. This doesn't mean that the stock will rise in the near term, but traders should keep in mind that fewer shares are being shorted.

Freeport-McMoRan's short interest compared to peers

Peer comparison is a popular technique among analysts and investors to evaluate a company's performance. A company's peer is another company that has similar characteristics, such as industry, size, age, and financial structure. You can find a company's peer group by reading its Form 10-K, its proxy statement, or by doing your own peer analysis.

According Benzinga ProFreeport-McMoRan's peer group average for short interest as a percentage of the float is 3.85%, meaning the company has less shorter interest than most of its peers.

Did you know that increasing short-term interest can actually be… bullish for an action? This Benzinga Money post explains how you can take advantage of it.

This article was generated by Benzinga's automated content engine and was reviewed by an editor.