As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at one noteworthy recent insider buy.
At Freeport-McMoran Copper & Gold, a filing with the SEC revealed that on Thursday, COO Harry M. Conger IV purchased 36,180 shares of FCX, at a cost of $15.23 each, for a total investment of $551,021. Bargain hunters can pick up FCX even cheaper than Conger IV did, with the stock trading as low as $14.38 at last check today which is 5.6% under Conger IV's purchase price. Freeport-McMoran Copper & Gold is trading up about 1.4% on the day Monday. This buy marks the first one filed by Conger in the past twelve months.
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