What Technical Indicators Show About FCX (FCX)?

Freeport-McMoRan Inc. (NYSE:FCX) finished Wednesday with an addition of $1.21 to close at $35.82, an upside of 3.50 percent. An average of 25,959,160 shares of common stock have been traded in the last five days. There was a gain of $4.11 in the past week. The last 20 days have seen an average of 24,928,949 shares traded, while the 50-day average volume stands at 19,308,980.

FCX stock has increased by 2.96% in the last month. The company shares reached their 1-month lowest point of $30.02 on 09/21/21. With the stock rallying to its 52-week high on 05/10/21, shares of the company touched a low of $16.50 and a high of $46.10 in 52 weeks. In spite of this, the price is down -22.30% from the 52-week high.

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Insider Transactions

129 days have passed since Freeport-McMoRan Inc. (FCX) last reported insider trading activity. FORD GERALD J, who is Director, most recently acquired $18,200 shares at $40.99 per share on Jun 07. In this transaction, the insider spent $745,945. Director, FORD GERALD J, disposed of 20,800 shares at a price of $43.23 on May 17. The insider now owns more than $899,086 worth of shares. Prior to that, VP Controller & Financial Rptg WHITMIRE C DONALD JR went on to Sale 42,500 shares at $41.35 each on May 05. An amount of $1,757,583 was transacted.

Valuation Metrics

Freeport-McMoRan Inc. (FCX) has a trailing price-to-earnings (P/E) ratio of 18.73, which compares with the 20.90 for the broader industry and 13.61 for the sector. In the last five years, Freeport-McMoRan Inc.’s PE ratio has ranged between 97.64 and 4.549. The stock’s beta is 2.11. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.79, the price-to-book (PB) ratio at 4.37, and the price-to-cash flow ratio at 8.94.

Freeport-McMoRan Inc. pays a $0.30 dividend per share annually. It offers a dividend yield of 0.84%. The company has a payout ratio of 7.70%. The company’s most recent quarterly dividend payment was $0.0750 a share, without any change from last year. Its dividend has been increased for the last 1 consecutive years with the latest increase dividend $0.0250 reported on Friday March 19 2021.

Freeport-McMoRan Inc. will next go ex-dividend on 14-Oct-2021. The next dividend payment Freeport-McMoRan Inc. will make is expected to be $0.075.

The quick ratio of Freeport-McMoRan Inc. for the three months ended June 29 was 1.50, and the current ratio was 2.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.72 and a total debt to equity ratio of 0.81 for the quarter ending June 29. On the profitability front, the trailing 12-month gross margin is 33.20% against a 5-year average of 12.6%. Freeport-McMoRan Inc.’s EBITDA margin for the year ending June 29 is 24.66%, while its operating margin for the same period stands at 32.30%. Its gross profit as reported stood at $2.54 billion compared to revenue of $14.2 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Freeport-McMoRan Inc.’s return on assets was 6.60%, compared to 0.5% over the last five years. In the past year, the return on investment has been 7.00%, and the 5-year average is 3.6%. Meanwhile, the return on equity (ROE) for the past 12 months has been 26.70% and the 5-year average holds at -0.2%. For the broader industry, ROE averaged -13.62 over the past year.

Earnings Surprise

The analyst consensus anticipated Freeport-McMoRan Inc.’s latest quarter earnings to come in at $0.76 per share, but it turned out to be $0.77, a 1.30% surprise. For the quarter, EBITDA amounted to $2.55 billion. Shareholders own equity worth $1.47 billion.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Freeport-McMoRan Inc. (FCX) price momentum. RSI 9-day as of the close on 13 October was 64.32%, suggesting the stock is Neutral, with historical volatility in this time frame at 47.54%.

As of today, FCX’s price is $34.82 +12.96% or $4.11 from its 5-day moving average. FCX is currently trading -2.50% lower than its 20-day SMA and -12.36% lower than its 100-day SMA. However, the stock’s current price level is -2.24% below the SMA50 and +45.43% above the SMA200.

The stochastic %K and %D were 76.06% and 78.54%, respectively, and the average true range (ATR) was 1.54. With the 14-day stochastic at 86.70% and the average true range at 1.51, the RSI (14) stands at 58.45%. The stock has reached 1.49 on the 9-day MACD Oscillator while the 14-day reading was at 1.73.

Analyst Ratings

Exane BNP Paribas upgraded Freeport-McMoRan Inc. (NYSE: FCX) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a a Neutral.The consensus rating for Freeport-McMoRan Inc. (FCX) among analysts is Overweight. According to current brokerage recommendations, 2 brokerage firms advise that investors sell FCX, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 14 others rate it as a “buy”.

What is FCX’s price target for the next 12 months?

Analysts predict a range of price targets between $29.00 and $54.00, with a median target of $43.00. Taking a look at these predictions, the average price target given by analysts for Freeport-McMoRan Inc. (FCX) stock is $42.36.


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