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Stocks in the Spotlight: Freeport-McMoRan Inc. (FCX), Cisco Systems, Inc. (CSCO), NVIDIA Corporation (NVDA)

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Freeport-McMoRan Inc. (FCX) had a light trading with around 14.99M shares changing hands compared to its three month average trading volume of 33.29M. The stock traded between $13.97 and $14.29 before closing at the price of $14.05 with -0.78% change on the day. The Phoenix Arizona 85004 based company is currently trading 299.15% above its 52 week low of $3.52 and -14.43% below its 52 week high of $16.42. Both the RSI indicator and target price of 48.31 and $12.88 respectively, lead us to believe that it should be put on hold over the coming weeks.

Freeport-McMoRan Inc., a natural resource company, acquires, explores, and develops mineral assets, and oil and natural gas resources. The company explores for copper, gold, molybdenum, cobalt hydroxide, silver, and other metals, as well as oil and gas. It holds interests in various mines located in the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, Miami, Chino, Tyrone, Henderson, and Climax in North America; Cerro Verde and El Abra in South America; and the Tenke Fungurume minerals district in the Democratic Republic of Congo, Africa. The company’s oil and gas operations include oil production facilities in the Deepwater Gulf of Mexico; oil production facilities onshore and offshore in California; onshore natural gas resources in the Haynesville shale in Louisiana; natural gas production from the Madden area in central Wyoming; and a position in the Inboard Lower Tertiary/Cretaceous natural gas trend onshore located in South Louisiana. As of December 31, 2015, its consolidated recoverable proven and probable mineral reserves included 99.5 billion pounds of copper, 27.1 million ounces of gold, 3.05 billion pounds of molybdenum, 271.2 million ounces of silver, and 0.87 billion pounds of cobalt; and its estimated proved oil and natural gas reserves totaled 252 million barrels of oil equivalents. The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. Freeport-McMoRan Inc. was founded in 1987 and is headquartered in Phoenix, Arizona.

Cisco Systems, Inc. (CSCO) continued its downward trend with the stock declining -0.46% or $-0.14 to close the day at $30.42 on light trading volume of 14.46M shares, compared to its three month average trading volume of 22.51M. The San Jose California 95134 based company has been outperforming the networking & communication devices group over the past 52 weeks, with the stock gaining 17.06%, compared to the industry which has advanced 13.4% over the same period. With RSI of 52.61, the stock should still continue to rise and get closer to its one year target estimate of $33.11, making it a hold for now.

Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. It provides switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications. The company also offers service provider video infrastructure, including set-top boxes, cable/telecommunications access products, and cable modems; and video software and solutions. In addition, it provides collaboration products comprising unified communications products, conferencing products, collaboration endpoints, and business messaging products; data center products, such as blade and rack servers, modular servers, fabric interconnects, software, and server access virtualization solutions; security products, including network and data center security, advanced threat protection, Web and email security, access and policy, unified threat management, and advisory, integration, and managed services; and other products, such as emerging technologies and other networking products. Further, the company offers wireless products consisting of wireless access points; network managed services; and standalone, switch-converged, and cloud managed solutions. Additionally, it provides technical support services and advanced services. The company serves businesses of various sizes, public institutions, governments, and communications service providers. Cisco Systems, Inc. sells its products directly, as well as through channel partners, such as systems integrators, service providers, other resellers, and distributors. The company was founded in 1984 and is headquartered in San Jose, California.

NVIDIA Corporation (NVDA) shares were up in last trading by 0.63% to $105.83. It experienced higher than average volume on day. The stock increased in value by almost 9.73% over the past week and grew 13.99% in the past month. It is currently trading 29.39% above its 50 day moving average and 85.2% above its 200 day moving average. Following the recent increase in price, the stock’s new closing price represents a -0.28% decrease in value from its one year high of $106.13. The RSI indicator value of 74.83, lead us to believe that it may reverse gains in the near term.

NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for deep learning, accelerated computing, and general purpose computing; and GRID for cloud-based streaming on gaming devices. The Tegra Processor segment provides processors that integrate a computer onto a single chip under the Tegra brand name; DRIVE automotive computers, which offer supercomputing capabilities; and tablet and portable devices for mobile gaming under the SHIELD name. The company’s products are used in gaming, professional visualization, datacenter, and automotive markets. It sells its products primarily to original equipment manufacturers, original design manufacturers, system builders, motherboard manufacturers, add-in board manufacturers, and retailers/distributors. NVIDIA Corporation was founded in 1993 and is headquartered in Santa Clara, California.

 

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