McMoRan Stock Falls On Unusually High Volume (MMR)
McMoRan Exploration (NYSE:MMR) is trading at unusually high volume Thursday with 6.8 million shares changing hands. It is currently at 2.1 times its average daily volume and trading down 37 cents (-2.3%).
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- McMoRan Exploration (NYSE: MMR) is trading at unusually high volume Thursday with 6.8 million shares changing hands. It is currently at 2.1 times its average daily volume and trading down 37 cents (-2.3%) at $15.45 as of 9:55 a.m. ET.
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McMoRan has a market cap of $1.37 billion and is part of the basic materials sector and energy industry. Shares are down 41.9% year to date as of the close of trading on Wednesday. McMoRan Exploration Co. engages in the exploration, development, and production of oil and natural gas in the shallow waters of the Gulf of Mexico and onshore in the Gulf Coast area of the United States. TheStreet Ratings rates McMoRan as a sell. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share. You can view the full McMoRan Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Holiday Special: Subscribe to Action Alerts PLUS to see how Jim Cramer trades his $2.5 Million+ portfolio for 51% off the list price. Your first 14-days are FREE: Sign up today to get e-mail alerts before every trade.
McMoRan Exploration (NYSE:MMR) hit a new 52-week high Tuesday as it is currently trading at $16.17, above its previous 52-week high of $16.13 with 84,782 shares traded as of 9:39 a.m. ET. Average volume has been 5.4 million shares over the past 30 days.