Freeport-McMoRan Inc (NYSE:FCX) saw an upside of 0.13% to close Monday at $37.20 after adding $0.05 on the day. The 5-day average trading volume is 9,489,800 shares of the company’s common stock. It has gained $40.48 in the past week and touched a new high 1 time within the past 5 days. An average of 8,258,655 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 9,772,614.
FCX’s 1-month performance is -3.12% or -$1.13 on its low of $36.42 reached on 09/25/23. The company’s shares have touched a 52-week low of $25.83 and high of $46.56, with the stock’s rally to the 52-week high happening on 01/25/23. YTD, FCX has lost -1.58% or -$0.80 and has reached a new high 10 times. However, the current price is down -20.10% from the 52-week high price.
Insider Transactions
FCX stock investors last saw insider trading activity on May 12.Mikes Ellie L. (Chief Accounting Officer) most recently sold 11,678 shares at $43.17 per share on Mar 01. This transaction cost the insider $504,117. Senior VP & General Counsel, Currault Douglas N. II, sold 75,000 shares at a price of $40.25 on Dec 02.
Valuation Metrics
FCX stock has a beta of 2.06. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.44 while the price-to-book (PB) in the most recent quarter is 3.29, with the price to cash flow ratio at 139.25.
Freeport-McMoRan Inc’s quick ratio for the period ended June 29 was 1.72, with the current ratio over the same period at 2.94. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.58, while the total debt to equity was 0.59. In terms of profitability, the gross margin trailing 12 months is 27.98%. The trailing 12-month EBITDA margin is 41.02% while for the period ending June 29, Freeport-McMoRan Inc’s operating margin was 24.95%. The firm’s gross profit as reported stood at $7.69 billion against revenue of $22.78 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -144.9% to $343.0 million, while revenue of $663.0 million was -93.29% off the previous quarter. Analysts expected FCX to announce $0.34 per share in earnings in its latest quarter, but it posted $0.35, representing a 2.90% surprise. EBITDA for the quarter stood at more than $1.96 billion. FCX stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 24.88 billion, with total debt at $9.5 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 25 September was 28.01% to suggest the stock is trending oversold, with historical volatility in this time period at 27.08%.
The stock’s 5-day moving average is $37.82, reflecting a -7.44% or -$2.99 change from its current price. FCX is currently trading -2.95% above its 20-day SMA, +1.64% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -9.44% and SMA200 by-3.28%.
Stochastic %K and %D was 5.79% and 2.96% and the average true range (ATR) pointed at 1.07. The RSI (14) points at 34.32%, while the 14-day stochastic is at 15.66% with the period’s ATR at 1.09. The stock’s 9-day MACD Oscillator is pointing at -1.70 and -2.07 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Freeport-McMoRan Inc (NYSE: FCX), Bernstein launched coverage with a Mkt perform rating. 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 9 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 2 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 $29.00 and a high of $57.00, with their median price target at $46.00. Looking at these predictions, the average price target given by analysts is for Freeport-McMoRan Inc (FCX) stock is $46.94.
