Thursday, October 29, 2020

Freeport-McMoRan Inc. [FCX] gain 28.20% so far this year. What now?

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Freeport-McMoRan Inc. [NYSE: FCX] closed the trading session at $16.82 on 10/13/20. The day’s price range saw the stock hit a low of $16.52, while the highest price level was $17.00. The company report on September 21, 2020 that Freeport-McMoRan Announces Commitment to Copper Mark Responsible Production Framework.

Freeport-McMoRan Inc. (NYSE: FCX) today announces its commitment to the Copper Mark. The Copper Mark is a new, comprehensive assurance framework that demonstrates the industry’s responsible production practices and contribution to the United Nations Sustainable Development Goals (SDGs). It is the first and only framework developed specifically for the copper industry and enables each site to demonstrate to customers, investors and other stakeholders their responsible production performance.

FCX has commenced the process for six of its operating sites and has future plans to validate all of its operating sites against the Copper Mark requirements.

The stocks have a year to date performance of 28.20 percent and weekly performance of 7.00 percent. The stock has been moved at 119.30 percent over the last six months. The stock has performed 2.81 percent around the most recent 30 days and changed 24.32 percent over the most recent 3-months.

If compared to the average trading volume of 19.87M shares, FCX reached to a volume of 12739997 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $17.47 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 2.20. 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.

Citigroup have made an estimate for Freeport-McMoRan Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 12, 2020. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $12.50 to $19. The new note on the price target was released on September 24, 2020, representing the official price target for Freeport-McMoRan Inc. stock. Previously, the target price had yet another raise to $12.50, while Morgan Stanley analysts kept a Equal-Weight rating on FCX stock.

The Average True Range (ATR) for Freeport-McMoRan Inc. is set at 0.67, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 1.84. The Price to Book ratio for the last quarter was 2.73, with the Price to Cash per share for the same quarter was set at 1.03. Price to Free Cash Flow for FCX in the course of the last twelve months was 39.37 with Quick ratio for the last quarter at 1.20.

FCX stock trade performance evaluation

Freeport-McMoRan Inc. [FCX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.00. With this latest performance, FCX shares gained by 2.81% in over the last four-week period, additionally plugging by 119.30% over the last 6 months – not to mention a rise of 77.05% 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 58.72, with the RSI for the last a single of trading hit 58.66, and the three-weeks RSI is set at 58.01 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 15.42, while it was recorded at 16.91 for the last single week of trading, and 11.62 for the last 200 days.

Freeport-McMoRan Inc. [FCX]: An insightful look at the core fundamentals

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.

Earnings per share (EPS) analysis for Freeport-McMoRan Inc. [FCX] stock

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.

Freeport-McMoRan Inc. [FCX]: Insider Ownership positions

There are presently around $16,994 million, or 71.30% 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 $1.91 billion in FCX stocks shares; and STATE STREET CORP, currently with $1.12 billion in FCX stock with ownership of nearly 3.225% of the company’s market capitalization.

299 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 95,706,965 shares. Additionally, 344 investors decreased positions by around 121,848,366 shares, while 127 investors held positions by with 792,774,319 shares. The mentioned changes placed institutional holdings at 1,010,329,650 shares, according to the latest SEC report filing. FCX stock had 112 new institutional investments in for a total of 33,170,552 shares, while 83 institutional investors sold positions of 39,258,525 shares during the same period.

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