Freeport-McMoRan Inc. (NYSE:FCX) saw a downside of -1.01% to close Monday at $44.95 after subtracting -$0.46 on the day. The 5-day average trading volume is 14,054,641 shares of the company’s common stock. It has gained $46.38 in the past week and touched a new high 2 times within the past 5 days. An average of 12,204,800 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 12,640,842.
FCX’s 1-month performance is 19.11% or $6.85 on its low of $37.46 reached on 12/30/22. The company’s shares have touched a 52-week low of $24.69 and high of $51.54, with the stock’s rally to the 52-week high happening on 01/18/23. YTD, FCX has achieved 18.49% or $6.95 and has reached a new high 9 times. However, the current price is down -12.79% from the 52-week high price.
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FCX stock investors last saw insider trading activity on Dec 02.Currault Douglas N. II (Senior VP & General Counsel) most recently sold 75,000 shares at $40.25 per share on Dec 02. This transaction cost the insider $3,018,832. Director, MCCOY DUSTAN E, sold 8,200 shares at a price of $39.24 on May 31. Then, on Mar 04, VP Controller & Financial Rptg WHITMIRE C DONALD JR sold 170 shares at a price of $49.97 per share. This transaction amounted to $8,495.
FCX stock has a beta of 2.00. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.69 while the price-to-book (PB) in the most recent quarter is 4.30, with the price to cash flow ratio at 11.21.
Freeport-McMoRan Inc.’s quick ratio for the period ended September 29 was 1.80, with the current ratio over the same period at 2.60. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.65, while the total debt to equity was 0.71. In terms of profitability, the gross margin trailing 12 months is 36.20%. The firm’s gross profit as reported stood at $8.81 billion against revenue of $22.84 billion.
For the quarterly period ending September 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -246.29% to $404.0 million, while revenue of $840.0 million was -107.92% off the previous quarter. Analysts expected FCX to announce $0.24 per share in earnings in its latest quarter, but it posted $0.26, representing a 8.30% surprise. EBITDA for the quarter stood at more than $1.47 billion. FCX stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 25.75 billion, with total debt at $10.69 billion. Shareholders hold equity totaling $1.43 billion.
Let’s look briefly at Freeport-McMoRan Inc. (FCX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 69.02% to suggest the stock is trending Neutral, with historical volatility in this time period at 29.43%.
The stock’s 5-day moving average is $44.51, reflecting a -0.22% or -$0.10 change from its current price. FCX is currently trading +16.91% above its 20-day SMA, +42.70% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +26.76% and SMA200 by-8.43%.
Stochastic %K and %D was 82.58% and 79.02% and the average true range (ATR) pointed at 1.59. The RSI (14) points at 67.79%, while the 14-day stochastic is at 83.73% with the period’s ATR at 1.55. The stock’s 9-day MACD Oscillator is pointing at 0.08 and 1.65 on the 14-day charts.
In the most recent analyst report for Freeport-McMoRan Inc. (NYSE: FCX), Scotiabank downgraded it to a Sector perform rating. They previously had a Sector outperform rating on the stock. Analysts offering their rating for FCX stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate FCX as a “sell,”, while 10 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 10 have offered a “buy” rating.
What is FCX’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $24.00 and a high of $58.00, with their median price target at $40.00. Looking at these predictions, the average price target given by analysts is for Freeport-McMoRan Inc. (FCX) stock is $41.42.