Seeking Alpha

Strong insider buying at XME and components Freeport McMoRan, Alcoa

  • Forbes finds the underlying holdings of the SPDR S&P Metals and Mining ETF (XME) show an impressive 20.1% of holdings on a weighted basis have enjoyed insider buying within the past six months.
  • Officers and directors of Freeport McMoRan (FCX), including the chairman and vice chairman, purchased more than 3.6M shares since June; FCX comprises ~3% of XME.
  • Alcoa (AA), which also makes up ~3% of XME, shows two directors and officers purchasing shares.
Comments (6)
  • grange402
    , contributor
    Comments (121) | Send Message
     
    This is a great sign FCX is going up big.
    6 Aug 2013, 07:35 PM Reply Like
  • Jake2992
    , contributor
    Comments (825) | Send Message
     
    Hard to see that even if copper rises, gold is in a death spiral
    6 Aug 2013, 07:52 PM Reply Like
  • haleiwahu
    , contributor
    Comments (3449) | Send Message
     
    gold is still at a 65:1 on silver, so it's keeping pace. Can't see either one of them going down too much more. My bet is gold will not dip below $1,150.

     

    As far as AA, they appear to be dead money
    6 Aug 2013, 08:19 PM Reply Like
  • papcollins
    , contributor
    Comments (21) | Send Message
     
    Thank goodness AA is still paying my pension. Some of us argued for more downstream business years ago, but it didn't happen. Look at PPG for a good example of dealing off the commodity businesses.
    6 Aug 2013, 08:45 PM Reply Like
  • WPSPIKER
    , contributor
    Comments (1141) | Send Message
     
    When the (FCX) Insiders are buying almost 50 million in stock for themselves then something is going on, and UP is my bet... Either there is a big build up coming or possible asset sale or their diversification is going much better than anyone could dream of.

     

    I'm a long term holder of (AA) too but don't hold as much hope for a fast reversal that (FCX) is going to get or (SCCO) for that matter.

     

    I just been adding to my position in both (SCCO) and (FCX).

     

    Mark
    6 Aug 2013, 10:20 PM Reply Like
  • bberuch
    , contributor
    Comments (264) | Send Message
     
    When the executives buy in quantity, it makes me feel better about my current "in the red" position on FCX, may even stock average.
    7 Aug 2013, 10:22 AM Reply Like
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