Freeport-McMoRan Inc. (NYSE:FCX) finished Thursday with a subtraction of -$0.05 to close at $42.38, a downside of -0.12 percent. An average of 8,663,000 shares of common stock have been traded in the last five days. There was a fall of -$0.67 in the past week, and it reached a new high 19 times over the past 12 months. The last 20 days have seen an average of 11,381,735 shares traded, while the 50-day average volume stands at 12,044,968.
FCX stock has increased by 4.27% in the last month. The company shares reached their 1-month lowest point of $38.96 on 07/11/23. With the stock rallying to its 52-week high on 01/25/23, shares of the company touched a low of $25.83 and a high of $46.56 in 52 weeks. It has reached a new high 10 times so far this year and achieved 12.12% or $4.38 in price. In spite of this, the price is down -8.98% from the 52-week high.
Insider Transactions
FCX stock investors should be aware that Freeport-McMoRan Inc. (FCX) stock had its last reported insider trading activity 163 days ago on May 12. In this transaction, the insider spent $504,117. Senior VP & General Counsel, Currault Douglas N. II, disposed of 75,000 shares at a price of $40.25 on Dec 02. The insider now owns more than $3,018,832 worth of shares.
Valuation Metrics
Freeport-McMoRan Inc. (FCX) has a trailing price-to-earnings (P/E) ratio of 29.13. The stock’s beta is 2.06. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.80, the price-to-book (PB) ratio at 3.75.
The company has a payout ratio of 41.00%. 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 June 29 was 1.70, and the current ratio was 2.90, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.58 and a total debt to equity ratio of 0.59 for the quarter ending June 29. Freeport-McMoRan Inc.’s EBITDA margin for the year ending June 29 is 41.02%, while its operating margin for the same period stands at 25.30%. Its gross profit as reported stood at $7.69 billion compared to revenue of $22.78 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 4.10%.
Earnings Surprise
For the three-month period that ended June 29, Freeport-McMoRan Inc. had $9.46 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $343.0 million in the quarter, while revenues were shrunk -144.9%. The analyst consensus anticipated Freeport-McMoRan Inc.’s latest quarter earnings to come in at $0.34 per share, but it turned out to be $0.35, a 2.90% surprise. For the quarter, EBITDA amounted to $1.96 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 10 August was 50.26%, suggesting the stock is Neutral, with historical volatility in this time frame at 23.76%.
As of today, FCX’s price is $42.46 -1.56% or -$0.67 from its 5-day moving average. FCX is currently trading +0.71% higher than its 20-day SMA and +16.97% higher than its 100-day SMA. However, the stock’s current price level is +23.81% above the SMA50 and +32.31% above the SMA200.
The stochastic %K and %D were 46.79% and 49.87%, respectively, and the average true range (ATR) was 1.21. With the 14-day stochastic at 42.29% and the average true range at 1.23, the RSI (14) stands at 53.56%. The stock has reached -0.42 on the 9-day MACD Oscillator while the 14-day reading was at -0.53.
Analyst Ratings
Bernstein launched coverage on Freeport-McMoRan Inc. (NYSE: FCX) in its analyst report released on June 29, 2023. The firm assigned the stock a Mkt perform rating. 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 10 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 $57.00, with a median target of $46.00. Taking a look at these predictions, the average price target given by analysts for Freeport-McMoRan Inc. (FCX) stock is $46.07.
