Real-Time Traders Buzz: Freeport-McMoRan Inc (FCX), Cliffs Natural Resources Inc (CLF)


Freeport-McMoRan Inc (NYSE:FCX)

Stock’s Trading Stats:

Freeport-McMoRan Inc (NYSE:FCX) is trading up with a percentage change of 6.05% and is at $10.35 right now. The Company’s market capitalization stands at $13.55 Billion in the current trading Session whereas, its outstanding shares are 1.25 Billion.

Recent Press Release:

Freeport-McMoRan Inc. (FCX) on April 5, 2016 declared a new organizational structure for its partner Freeport-McMoRan Oil & Gas (FM O&G). The changes are being undertaken to reduce costs, streamline functions and to enhance capital allocation across FCX’s global business in a manner comprising with FCX’s debt reduction initiatives.

FM O&G is being restructured as an operating division of FCX, resulting in the elimination of FM O&G executive administration roles and the integration of financial and administrative roles with FCX corporate functions.

Mark Kidder has been named Executive Vice President – Operations of FM O&G and will lead FM O&G’s operating team. Mark formerly served as Vice President – Operations and has 36 years of operational experience in the offshore and onshore upstream energy industry, counting 13 years with FM O&G and its predecessor and 23 years with major oil companies and independent energy producers.

FM O&G will focus on conducting its operations safely and efficiently to preserve and enhance the values of its assets for anticipated future improvement in market conditions. Further steps will be taken to reduce costs and capital expenditures, and FCX will continue to evaluate potential transactions for the sale of certain assets of FM O&G.

Cliffs Natural Resources Inc (NYSE:CLF)

Stock’s Trading Stats:

Cliffs Natural Resources Inc (NYSE:CLF) is surging 6.23% percent and is at $3.75 in the Real-Time trading session. The stock’s market capitalization stands at $781.71 Million with outstanding shares of 180.11 Million.

Recent Press Release:

Cliffs Natural Resources Inc. (CLF) a mining and natural resources company, produces and supplies iron ore. The company operates five iron ore mines in Michigan and Minnesota; and Koolyanobbing iron ore mining complex located in Western Australia, which produces lump and fines iron ore. It also own two iron ore mines in Eastern Canada. The company sells its iron products to integrated steel companies and steel producers in the United States, China, Canada, and internationally. The company was formerly known as Cleveland-Cliffs Inc. Cliffs Natural Resources Inc. was founded in 1847 and is headquartered in Cleveland, Ohio.