What You Need To Know About Freeport-McMoRan Inc. (FCX)


Freeport-McMoRan Inc. (NYSE:FCX) finished Thursday with an addition of $0.43 to close at $38.31, an upside of 1.14 percent. An average of 8,653,960 shares of common stock have been traded in the last five days. There was a fall of -$0.14 in the past week, and it reached a new high 12 times over the past 12 months. The last 20 days have seen an average of 11,528,220 shares traded, while the 50-day average volume stands at 14,123,523.

FCX stock has increased by 2.13% in the last month. The company shares reached their 1-month lowest point of $36.85 on 12/22/22. With the stock rallying to its 52-week high on 03/25/22, shares of the company touched a low of $24.74 and a high of $51.63 in 52 weeks. It has reached a new high 13 times so far this year and lost -7.40% or -$3.42 in price. In spite of this, the price is down -25.79% from the 52-week high.

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Insider Transactions

FCX stock investors should be aware that Freeport-McMoRan Inc. (FCX) stock had its last reported insider trading activity 28 days ago on Dec 02. In this transaction, the insider spent $3,018,832. Director, MCCOY DUSTAN E, disposed of 8,200 shares at a price of $39.24 on May 31. The insider now owns more than $321,796 worth of shares. Prior to that, VP Controller & Financial Rptg WHITMIRE C DONALD JR went on to Sale 170 shares at $49.97 each on Mar 04. An amount of $8,495 was transacted.

Valuation Metrics

Freeport-McMoRan Inc. (FCX) has a trailing price-to-earnings (P/E) ratio of 14.51. The stock’s beta is 1.96. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.34, the price-to-book (PB) ratio at 3.67, and the price-to-cash flow ratio at 9.72.

The company has a payout ratio of 14.10%. The company’s most recent quarterly dividend payment was $0.15 a share, without any change from last year. Its latest increase dividend $0.0750 reported on Wednesday December 22 2021.

Financial Health

The quick ratio of Freeport-McMoRan Inc. for the three months ended September 29 was 1.80, and the current ratio was 2.60, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.65 and a total debt to equity ratio of 0.71 for the quarter ending September 29. Its gross profit as reported stood at $8.81 billion compared to revenue of $22.84 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 7.90%.

Earnings Surprise

For the three-month period that ended September 29, Freeport-McMoRan Inc. had $9.66 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $404.0 million in the quarter, while revenues were shrunk -246.29%. The analyst consensus anticipated Freeport-McMoRan Inc.’s latest quarter earnings to come in at $0.24 per share, but it turned out to be $0.26, a 8.30% surprise. For the quarter, EBITDA amounted to $1.47 billion. Shareholders own equity worth $1.43 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 29 December was 51.00%, suggesting the stock is Neutral, with historical volatility in this time frame at 28.59%.

As of today, FCX’s price is $38.17 -0.36% or -$0.14 from its 5-day moving average. FCX is currently trading -3.74% lower than its 20-day SMA and +25.11% higher than its 100-day SMA. However, the stock’s current price level is +34.47% above the SMA50 and -13.48% below the SMA200.

The stochastic %K and %D were 35.00% and 34.48%, respectively, and the average true range (ATR) was 1.29. With the 14-day stochastic at 33.91% and the average true range at 1.38, the RSI (14) stands at 52.83%. The stock has reached 0.27 on the 9-day MACD Oscillator while the 14-day reading was at -0.01.

Analyst Ratings

Scotiabank downgraded Freeport-McMoRan Inc. (NYSE: FCX) to a a Sector perform rating in its most recent analyst report. Previously, the stock was rated as a Sector outperform. The consensus rating for Freeport-McMoRan Inc. (FCX) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell FCX, while 10 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 9 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 $23.00 and $55.00, with a median target of $37.00. Taking a look at these predictions, the average price target given by analysts for Freeport-McMoRan Inc. (FCX) stock is $38.47.


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