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CEO and CFO bought stock at $10 before this big dipBy Ed Lin, Barron's, 3/13/20 "Copper-mining giant Freeport-McMoRan has seen its shares tumble in 2020, but Chief Executive Officer Richard Adkerson and Chief Financial Officer Kathleen Quirk have recently made large stock purchases. Freeport-McMoRan stock (ticker: FCX) has lost two-fifthss of its value this year. The company has been having challenges with an Indonesian mine, and with continuing trade tensions between the U.S. and China. These were issues before the coronavirus outbreak became a major global worry. Adkerson paid $2.5 million on March 5 for 250,000 Freeport-McMoRan shares, an average per-share price of $10.02. He now owns 2.7 million shares in a personal account, and an additional 813,000 shares through a trust and a retirement account, according to a form he filed with the Securities and Exchange Commission. He last bought stock in June, at nearly the same per-share price. Adkerson paid $1.74 million on June 6 for 172,000 Freeport-McMoRan shares, an average price of $10.14 each. Quirk paid $852,600, also on March 5, for 85,000 Freeport-McMoRan shares, an average per-share price of $10.03. She now owns 1.1 million shares in a personal account. Freeport-McMoRan, which also mines gold and molybdenum, didn't respond to a request to make Adkerson and Quirk available for comment. Adkerson told The Wall Street Journal in January that he wasn't interested in a combination with Barrick Gold, after the CEO of that gold miner had made overtures to do so." |
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Msg # | Subject | Author | Recs | Date Posted |
957 | Re: CEO and CFO bought stock at $10 before this big dip | tigris72poo | 0 | 3/14/2020 5:09:02 PM |