Freeport-McMoRan Inc. (NYSE:FCX) currently has a daily average trading volume of 12.39M but it saw 25230105 shares traded on Thursday. With a market cap of 53.41B USD, stock’s current market price of $36.10 came rising about 1.66 while comparing to the previous closing price of $35.51. In past 52 weeks, the stock remained buoying in the range of price level as high as $51.54 and as low as $24.69. In the recent trading on the day, stock has struck highest price mark of $36.14 while lowest mark touched by it was $34.88.
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Taking a look at 20-day trading activity of Freeport-McMoRan Inc. (FCX) gives us an average price of $40.39, while its current price level is -29.96% below from 52-week high level whereas it is 46.19% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $42.37 while that of 200 days or SMA-200 reads an average of $35.15. A closer look into the stock’s movement over the week reveals that its volatility is standing at 4.35% during that period while stretching the period over a month that decreases to 3.35%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 32.79 which implies that the stock is in neutral territory.
The company’s shares got several price updates from the analyst firms in past one month and most recent of them is from the Scotiabank which upgraded the stock as “Sector Outperform” in its note to investors issued on March 14, 2023, recommending a price target of between $41 and $50 for it. Scotiabank downgraded its recommendation for the stock as a “Sector Perform” from “Sector Outperform” on November 11, 2022 while assigning a price target of $34. Exane BNP Paribas issued its recommendations for the stock as it downgraded the price target for the stock is $29.
Over the week, FCX’s stock price is moving -7.84% down while it is -16.01% when we observe its performance for the past one month. Year-to-date it is -4.84% down and over the past year, the stock is showing a downside performance of -17.76%.
The latest quarterly earnings report issued by the company was for quarter ended 12/30/2022, when its quarterly earnings per share (EPS) of $0.52 beat the consensus estimate of $0.46 for the same. For FCX, analysts are forecasting an EPS-growth rate of -18.40% for current year and estimate for EPS growth in next year is 24.60%. In next quarter, company is expected to be making quarterly sales of $5.94 billion as analysts are expecting the sales for current fiscal year at $22.89 billion and seeing the company making $24.47 billion in sales next year. Moreover, analysts are in estimates of $4.99 billion for current-quarter revenue.
Currently, Freeport-McMoRan Inc.’s total number of outstanding shares is 1.43B with 0.52% of that held by the insiders while 78.95% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 18.30% and return on equity (ROE) at 22.90%. It has a price to earnings ratio (P/E ratio) of 15.17 while having a 15.37 of forward P/E ratio. Stock’s beta reads 2.02. Stock has a price to book (P/B) ratio of 3.32 while price to sale or P/S ratio amounts to 2.34. Its return on asset (ROA) is 6.90% on average.
A filing at the U.S. Securities and Exchange Commission revealed that Vanguard Total Stock Market Index came shrinking its share ownership by 0.80% in the Freeport-McMoRan Inc. (FCX) increasing its stake to 3.06% with control over 0.35 million shares in the company. As per SEC documents, Vanguard Total Stock Market Index sought 43,817,377 of company’s common stock of worth $1.8 billion as per recent closing price of the stock. Vanguard Total Stock Market Index is not the only institutional holder which restructured its stake in Freeport-McMoRan Inc., as Vanguard 500 Index Fund picked 33,117,983 shares of worth $1.36 billion to bring its holdings to a total of 78396.0 shares. In the most recent quarter, American Funds Growth Fund of Ame came rising its stake by 19.55% in the company and now holds 27.63 million or 1.93% of the company’s stake having worth of about 1.13 billion.
