Freeport-McMoRan Inc. (NYSE:FCX) does about 13.82M shares in volume on a normal day but saw 11730224 shares change hands in Monday trading. The company now has a market cap of 62.45B USD. Its current market price is $44.95, marking a decrease of -1.01% compared to the previous close of $45.41. The 52 week high reached by this stock is $51.54 whilst the lowest price level in 52 weeks is $24.69. The script in recent trading has seen the stock touch a high of $45.55 and a low of $44.125.
Top 5 Undervalued Stocks To Own In 2023
Microchip Maker Releases "World's Most Powerful Data Center CPU". It could allow the company who manufactures it to lead the industry as the global microchip shortage continues into the coming year. We've put together a free research report that explains all the details. Not only will you find out why analysts believe this chip manufacturer could lead the pack, you will also discover four more potential winners for the coming year.
Click here to download your Free Research Report…
Sponsored
Freeport-McMoRan Inc. (FCX) has a 20-day trading average at $41.67 and the current price is -12.79% off the 52-week high compared with 82.02% distance from its 52-week low. The 50-day simple moving average of the closing price is $39.46 and its 200-day simple moving average is $35.05. If we look at the stock’s price movements over the week, volatility stands at 3.95%, which decreases to 3.28% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 68.11 to suggest the stock is neutral.
22 analysts observing the Freeport-McMoRan Inc. (FCX) stock have set the 12-month price targets for the company’s shares at between $24.00 and $58.00. The consensus objective for the share price is $41.15, suggesting that the stock has a potential downside of -9.23% over the period. The median price target is -12.38% away from the current levels at $40.00.
FactSet Research has provided data showing that 22 brokerages have issued ratings for the stock. 1 analysts have rated it as a sell, while 1 advise that it is a overweight. 10 analysts have rated it as a buy and 10 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on November 11, 2022 when Scotiabank downgraded the stock to “Sector Perform” and issued a price target of $34. Exane BNP Paribas also downgraded the stock to “Neutral” from Outperform on October 06, 2022 at a price target of $29.
The current price level is 8.83%, 14.64%, and 28.72% away from its SMA20, SMA50, and SMA200 respectively, with the FCX price moving above the 50-day SMA on January 23. Freeport-McMoRan Inc. (FCX) stock is down -0.22% over the week and 19.11% over the past month. Its price is 18.49% year-to-date and 4.98% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of $0.26 above consensus estimates by $0.02. The company’s next earnings report is expected on 04/27/2023, with forecasts estimating quarterly EPS at $0.43 and $2.34 for whole year. FCX’s earnings per share are forecast to shrink by -25.20% this year and -16.70% over next year. Expected sales for next quarter are $5.78 billion, which analysts say will come at $22.45 billion for the current fiscal year and next year at $23 billion. In addition, estimates put the company’s current quarterly revenue at an average of $5.42 billion.
Its 12-month price target is $40.00. To reach the target analysts have set, the stock logically needs to shrink -9.23 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $24.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $58.00.
Outstanding shares total 1.43B with insiders holding 0.52% of the shares and institutional holders owning 79.30% of the company’s common stock. The company has a return on investment of 25.90% and return on equity of 26.30%. The price to earnings ratio (P/E ratio) amounts to 17.03 while the forward price to earnings ratio is 23.05. The beta has a value of 2.00. Price to book ratio is 4.30 and price to sales ratio is 2.69.
According to a U.S. Securities and Exchange Commission filing, Vanguard Total Stock Market Index has added its position in Freeport-McMoRan Inc. (FCX) to 43,468,283 shares, mirroring a recent increase by 0.88%. Vanguard Total Stock Market Index added 0.38 million shares of Freeport-McMoRan Inc. common stock bringing its total worth to about $1.65 billion at the end of recent close, SEC documents show. Vanguard Total Stock Market Index isn’t the only investment manager who changed stakes and is followed by Vanguard 500 Index Fund, which added 0.27 million shares to end up with 33,039,587 shares worth $1.26 billion. American Funds Growth Fund of Ame raise their holdings by 19.55% in the company over the course of the most recent quarter. It now holds a 1.93% position in Freeport-McMoRan Inc. thanks to 27.63 million shares amounting to $1.05 billion.
