As of Thursday close, Freeport-McMoRan Inc.’s (NYSE:FCX) stock was down -$0.28, moving down -0.70 percent to $39.91. The average number of shares traded per day over the past five days has been 8,276,420 shares. 4 times new highs have been achieved over the past 5 days, with a $1.51 gain in that time frame. In the last twenty days, the average volume was 9,260,285, while in the previous 50 days, it was 10,999,521.
Since last month, FCX stock retreated -6.25%. Shares of the company fell to $37.74 on 08/25/23, the lowest level in the past month. A 52-week high of $46.56 was reached on 01/25/23 after having rallying from a 52-week low of $25.83. Since the beginning of this year, FCX’s stock price has risen by 5.59% or $1.91, and marked a new high 10 times. However, the stock has declined by -14.28% since its 52-week high.
FCX stock investors should be aware that Freeport-McMoRan Inc. (FCX) stock had its last reported insider trading activity 112 days ago on May 12. Lewis Sara Grootwassink, the Director of the company, purchased of 4,000 shares for $34.90 on May 12. It resulted in a $139,597 investment by the insider. Mikes Ellie L. sold 11,678 shares at an average price of $43.17 on Mar 01. The insider now owns 32,333 shares following the transaction. On Dec 02, Senior VP & General Counsel Currault Douglas N. II sold 75,000 shares at $40.25 apiece. The transaction was valued at $3,018,832.
Valuation Metrics
Right now, Freeport-McMoRan Inc. (FCX) has a P/E ratio of about 27.43. The stock’s beta is 2.07. Besides these, the trailing price-to-sales (P/S) ratio of 2.62, the price-to-book (PB) ratio of 3.53, and the price-to-cash flow ratio of 104.03 may also be considered.
The latest dividend of $0.15 per share was paid out, remained unchanged from last year’s $0.15. On Wednesday December 22 2021, a $0.0750 dividend increase was announced.
Financial Health
In the three months ended June 29, Freeport-McMoRan Inc.’s quick ratio stood at 1.70, while its current ratio was 2.90, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.58, and the total debt-to-equity ratio was 0.59. On the profitability front, the trailing twelve-month gross margin is 28.80% percent. In the year ended June 29, EBITDA margin amounted to 41.02%, whereas operating margins totaled 25.30%. Based on annual data, FCX earned $7.69 billion in gross profit and brought in $22.78 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 18.30%. Return on equity (ROE) for the past 12 months was 13.40%.
In Freeport-McMoRan Inc.’s quarter-end financial report for June 29, it reported total debt of $9.46 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. FCX’s revenue rose 5.6% to $5.39 billion during the quarter, while net income inched up to $5.74 billion. While analysts expected Freeport-McMoRan Inc. to report $0.34 quarterly earnings, the actual figure was $0.35 per share, beating the consensus estimate by 2.90%. During the quarter, the company generated $1.96 billion in EBITDA. The liabilities of Freeport-McMoRan Inc. were 24.88 billion at the end of its most recent quarter ended June 29, and its total debt was $9.5 billion. The value of shareholders’ equity is $1.43 billion.
Technical Picture
This quick technical analysis looks at Freeport-McMoRan Inc.’s (FCX) price momentum. With a historical volatility rate of 22.36%, the RSI 9-day stood at 49.51% on 31 August.
With respect to its five-day moving average, the current Freeport-McMoRan Inc. price is up by +3.93% percent or $1.51. At present, FCX shares trade -7.29% below its 20-day simple moving average and -0.55% percent below its 100-day simple moving average. However, the stock is currently trading approximately +0.35% above its SMA50 and +4.92% above its SMA200.
Stochastic coefficient K was 55.54% and Stochastic coefficient D was 41.25%, while ATR was 1.04. Given the Stochastic reading of 62.18% for the 14-day period, the RSI (14) reading has been calculated as 47.81%. As of today, the MACD Oscillator reading stands at 0.89, while the 14-day reading stands at 0.71.
Analyst Ratings
Bernstein launched its rating on Freeport-McMoRan Inc. (NYSE: FCX) to a Mkt perform in a note to investors on June 29, 2023. Freeport-McMoRan Inc. (FCX) has been rated Overweight by analysts. According to 1 brokerage firm, FCX is a sell, and 9 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Freeport-McMoRan Inc. stock as buy, with 10 recommending it as overweight.
With a median target price of $45.50, the current consensus forecast for the stock is $29.00 – $57.00. Based on these forecasts, analysts predict Freeport-McMoRan Inc. (FCX) will achieve an average price target of $45.91.
