Freeport-McMoRan Inc. (NYSE:FCX) currently has a daily average trading volume of 12.96M but it saw 12397010 shares traded on Thursday. With a market cap of 48.13B USD, stock’s current market price of $33.63 came rising about 1.26 while comparing to the previous closing price of $33.21. In past 52 weeks, the stock remained buoying in the range of price level as high as $46.64 and as low as $24.65. In the recent trading on the day, stock has struck highest price mark of $33.735 while lowest mark touched by it was $33.06.
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Taking a look at 20-day trading activity of Freeport-McMoRan Inc. (FCX) gives us an average price of $35.74, while its current price level is -27.90% below from 52-week high level whereas it is 36.43% 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 $38.08 while that of 200 days or SMA-200 reads an average of $36.66. A closer look into the stock’s movement over the week reveals that its volatility is standing at 2.19% during that period while stretching the period over a month that increases to 2.75%. 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 33.94 which implies that the stock is in neutral territory.
Freeport-McMoRan Inc. (FCX)’s stock is currently under the radar of 22 analysts who are in consensus at a 12-month price target range of between $29.00 and $57.00 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $29.00 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $57.00. Average price target assigned by them is $46.17 which highlights an upside potential of 27.16% for the stock over that period. And to attain the median price target of $47.00 assigned by those analysts, stock has to add about 28.45% of value to its current levels.
Data by FactSet Research shows that 22 analysts have issued their ratings for the stock. 1 of them are in opinions that stock is a Sell, while 1 are advising it as an Overweight. 11 analysts suggested the investors to Buy the stock while 9 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Overweight for the stock and that issued by Wall Street to investors is Moderate Buy.
Over the week, FCX’s stock price is moving -5.75% down while it is -9.79% when we observe its performance for the past one month. Year-to-date it is -11.19% down and over the past year, the stock is showing a downside performance of -9.47%.
The latest quarterly earnings report issued by the company was for quarter ended 3/30/2023, when its quarterly earnings per share (EPS) of $0.52 beat the consensus estimate of $0.45 for the same. The company is expected to be releasing its next quarterly report in 07/26/2023, for which analysts forecasted an EPS of $0.55 while estimate for next year EPS is $2.03. For FCX, analysts are forecasting an EPS-growth rate of -16.80% for current year and estimate for EPS growth in next year is 11.30%. In next quarter, company is expected to be making quarterly sales of $5.71 billion as analysts are expecting the sales for current fiscal year at $24 billion and seeing the company making $24.59 billion in sales next year. Moreover, analysts are in estimates of $6.47 billion for current-quarter revenue.
Currently, Freeport-McMoRan Inc.’s total number of outstanding shares is 1.43B with 0.56% of that held by the insiders while 80.60% 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 16.90%. It has a price to earnings ratio (P/E ratio) of 18.78 while having a 14.89 of forward P/E ratio. Stock’s beta reads 1.99. Stock has a price to book (P/B) ratio of 3.00 while price to sale or P/S ratio amounts to 2.23. Its return on asset (ROA) is 5.10% on average.
A filing at the U.S. Securities and Exchange Commission revealed that Vanguard Total Stock Market ETF came shrinking its share ownership by 0.34% in the Freeport-McMoRan Inc. (FCX) increasing its stake to 3.11% with control over 0.15 million shares in the company. As per SEC documents, Vanguard Total Stock Market ETF sought 44,454,846 of company’s common stock of worth $1.69 billion as per recent closing price of the stock. Vanguard Total Stock Market ETF is not the only institutional holder which restructured its stake in Freeport-McMoRan Inc., as RBC Global Resources Fund picked 41,600,000 shares of worth $1.58 billion to bring its holdings to a total of 41.53 million shares. In the most recent quarter, Vanguard 500 Index Fund came rising its stake by 0.54% in the company and now holds 33.55 million or 2.35% of the company’s stake having worth of about 1.27 billion.
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