Freeport-McMoRan Stock Drops 16% Amid Mining Sector Pressure

(RTTNews) - Freeport-McMoRan Inc. (FCX) shares fell 15.84 percent to $38.17 on Wednesday, sliding $7.19, amid weakness in mining names after G50 Corp. Limited reported strong antimony drill results at its White Caps project in Nevada. The drilling included one hole returning a peak of 3.5 percent Sb within a broader zone of elevated gold and antimony values.

The stock opened at $41.83 and traded between $39.80 and $41.99, compared with a prior close of $45.36 on the New York Stock Exchange.

Trading volume swelled to 39.8 million shares, well above the average of 14.8 million. Freeport-McMoRan now trades within a 52-week range of $27.66 to $52.61.