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.

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Comments (6)
  • grange402
    , contributor
    Comments (151) | Send Message
     
    This is a great sign FCX is going up big.
    6 Aug 2013, 07:35 PM Reply Like
  • Jake2992
    , contributor
    Comments (1120) | 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 (4009) | 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 (34) | 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 (1149) | 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 (314) | 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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