Freeport-McMoRan Inc. [NYSE: FCX] price surged by 0.93 percent to reach at $0.23. The company report on December 14, 2020 that Freeport-McMoRan Completes Sale of Undeveloped Project in the Democratic Republic of Congo for $550 Million.
Freeport-McMoRan Inc. (NYSE: FCX) announced that it has completed a sale of its interests in the Kisanfu undeveloped project to a wholly owned subsidiary of China Molybdenum Co., Ltd. (CMOC) for $550 million. After-tax net cash proceeds approximate $415 million.
The Kisanfu project, located in the Democratic Republic of Congo, is a large, undeveloped cobalt and copper resource discovered by Freeport’s exploration team. Following Freeport’s sale of its interest in the adjacent Tenke Fungurume mine in 2016, the Kisanfu project was no longer strategic to Freeport’s long-term strategy.
A sum of 13453705 shares traded at recent session while its average daily volume was at 19.33M shares. Freeport-McMoRan Inc. shares reached a high of $25.10 and dropped to a low of $23.96 until finishing in the latest session at $24.86.
The one-year FCX stock forecast points to a potential upside of 1.04. The average equity rating for FCX stock is currently 2.20, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $25.12 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.
Johnson Rice have made an estimate for Freeport-McMoRan Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 17, 2020. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on November 12, 2020, representing the official price target for Freeport-McMoRan Inc. stock. On September 24, 2020, analysts increased their price target for FCX shares from 12.50 to 19.
The Average True Range (ATR) for Freeport-McMoRan Inc. is set at 0.80, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 2.66. The Price to Book ratio for the last quarter was 3.91, with the Price to Cash per share for the same quarter was set at 1.65. Price to Free Cash Flow for FCX in the course of the last twelve months was 21.42 with Quick ratio for the last quarter at 1.30.
FCX Stock Performance Analysis:
Freeport-McMoRan Inc. [FCX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.45. With this latest performance, FCX shares gained by 17.76% in over the last four-week period, additionally plugging by 124.37% over the last 6 months – not to mention a rise of 95.59% 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 69.15, with the RSI for the last a single of trading hit 67.33, and the three-weeks RSI is set at 69.48 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 20.80, while it was recorded at 24.58 for the last single week of trading, and 13.81 for the last 200 days.
Insight into Freeport-McMoRan Inc. 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 1.30 and a Current Ratio set at 2.60.
FCX Stock EPS
With the latest financial reports released by the company, Freeport-McMoRan Inc. posted 0.02/share EPS, while the average EPS was predicted by analysts to be reported at 0/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 Position Details
There are presently around $26,148 million, or 73.90% of FCX stock, in the hands of institutional investors. The top three institutional holders of FCX stocks are: VANGUARD GROUP INC with ownership of 154,746,495, which is approximately -3.523% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 114,978,726 shares of the stock with an approximate value of $2.86 billion in FCX stocks shares; and STATE STREET CORP, currently with $1.59 billion in FCX stock with ownership of nearly -3.547% of the company’s market capitalization.
Positions in Freeport-McMoRan Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 352 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 128,050,281 shares. Additionally, 348 investors decreased positions by around 89,059,192 shares, while 130 investors held positions by with 834,694,921 shares. The mentioned changes placed institutional holdings at 1,051,804,394 shares, according to the latest SEC report filing. FCX stock had 137 new institutional investments in for a total of 22,879,093 shares, while 91 institutional investors sold positions of 10,087,094 shares during the same period.