why Freeport-McMoRan Inc. [FCX] is a Good Choice for Investors After New Price Target of $13.26

Freeport-McMoRan Inc. [NYSE: FCX] gained 3.17% on the last trading session, reaching $16.27 price per share at the time. The company report on August 31, 2020 that Richard C. Adkerson Elected Chair International Council on Mining and Metals.

Freeport-McMoRan Inc. (NYSE: FCX) is pleased to announce that Richard C. Adkerson, Vice Chairman of the Board, President and Chief Executive Officer, has been elected Chair of International Council on Mining and Metals (ICMM).

As a founding member of the ICMM, FCX has played an active role in many key initiatives of ICMM through the years. Richard became a member of Council in 2005 and served as Chair from 2008-2011. He also led FCX’s active participation in the recent development of the new Global Industry Standard on Tailings Management.

Freeport-McMoRan Inc. represents 1.45 billion in outstanding shares, while the company has a total market value of $22.90 billion with the latest information. FCX stock price has been found in the range of $15.87 to $16.44.

If compared to the average trading volume of 20.16M shares, FCX reached a trading volume of 21063515 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Freeport-McMoRan Inc. [FCX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FCX shares is $13.26 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FCX stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Freeport-McMoRan Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on August 04, 2020. The new note on the price target was released on July 20, 2020, representing the official price target for Freeport-McMoRan Inc. stock. Previously, the target price had yet another raise to $12.50, while Scotiabank analysts kept a Sector Outperform rating on FCX stock.

The Average True Range (ATR) for Freeport-McMoRan Inc. is set at 0.64, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 1.77. The Price to Book ratio for the last quarter was 2.64, with the Price to Cash per share for the same quarter was set at 1.04. Price to Free Cash Flow for FCX in the course of the last twelve months was 37.85 with Quick ratio for the last quarter at 1.20.

Trading performance analysis for FCX stock

Freeport-McMoRan Inc. [FCX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.56. With this latest performance, FCX shares gained by 16.46% in over the last four-week period, additionally plugging by 116.07% over the last 6 months – not to mention a rise of 56.89% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FCX stock in for the last two-week period is set at 62.82, with the RSI for the last a single of trading hit 63.69, and the three-weeks RSI is set at 63.88 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 14.09, while it was recorded at 15.98 for the last single week of trading, and 11.20 for the last 200 days.

Freeport-McMoRan Inc. [FCX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Freeport-McMoRan Inc. [FCX] shares currently have an operating margin of +4.66 and a Gross Margin at +8.28. Freeport-McMoRan Inc.’s Net Margin is presently recorded at -1.71.

Return on Total Capital for FCX is now 2.37, given the latest momentum, and Return on Invested Capital for the company is -1.22. Return on Equity for this stock declined to -2.57, with Return on Assets sitting at -0.59. When it comes to the capital structure of this company, Freeport-McMoRan Inc. [FCX] has a Total Debt to Total Equity ratio set at 108.35. Additionally, FCX Total Debt to Total Capital is recorded at 52.00, with Total Debt to Total Assets ending up at 24.69. Long-Term Debt to Equity for the company is recorded at 107.82, with the Long-Term Debt to Total Capital now at 51.75.

Reflecting on the efficiency of the workforce at the company, Freeport-McMoRan Inc. [FCX] managed to generate an average of -$8,909 per employee. Receivables Turnover for the company is 11.54 with a Total Asset Turnover recorded at a value of 0.35.Freeport-McMoRan Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 2.50.

Freeport-McMoRan Inc. [FCX]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Freeport-McMoRan Inc. posted -0.01/share EPS, while the average EPS was predicted by analysts to be reported at -0.01/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FCX.

An analysis of insider ownership at Freeport-McMoRan Inc. [FCX]

There are presently around $16,488 million, or 71.70% of FCX stock, in the hands of institutional investors. The top three institutional holders of FCX stocks are: VANGUARD GROUP INC with ownership of 160,397,605, which is approximately 0.66% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 113,361,752 shares of the stock with an approximate value of $1.84 billion in FCX stocks shares; and STATE STREET CORP, currently with $1.08 billion in FCX stock with ownership of nearly 3.225% of the company’s market capitalization.

310 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 95,202,990 shares. Additionally, 347 investors decreased positions by around 121,914,119 shares, while 126 investors held positions by with 796,261,009 shares. The mentioned changes placed institutional holdings at 1,013,378,118 shares, according to the latest SEC report filing. FCX stock had 114 new institutional investments in for a total of 32,889,529 shares, while 86 institutional investors sold positions of 39,258,324 shares during the same period.

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