Freeport-McMoRan Inc. [FCX] Is Currently -5.13 below its 200 Period Moving Avg: What Dose This Mean?

Freeport-McMoRan Inc. [NYSE: FCX] loss -5.13% or -1.64 points to close at $30.35 with a heavy trading volume of 19889539 shares. The company report on January 11, 2021 that Freeport-McMoRan Mourns the Passing of its Former Chairman, James Robert “Jim Bob” Moffett.

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Freeport-McMoRan Inc. (NYSE: FCX) announced with great sadness that James Robert “Jim Bob” Moffett of Austin, Texas passed away at the age of 82. Mr. Moffett served as Chairman of Freeport-McMoRan from 1984-2015 and CEO from 1984-2003. Mr. Moffett co-founded McMoRan Exploration Co. in 1969 with B. M. “Mack” Rankin, Jr. (deceased) and W. K. McWilliams (deceased). In 1981, under Mr. Moffett’s leadership, McMoRan merged with Freeport Minerals Company to form one of the world’s leading natural resource companies, Freeport-McMoRan Inc. (FTX), FCX’s former parent company.

“Jim Bob was a legend and visionary in the natural resource industry,” said Gerald Ford, Chairman of the Board of FCX, and Richard Adkerson, Vice Chairman and Chief Executive Officer. “Jim Bob’s passion and relentless drive as an explorationist led to the discovery and development of world class oil and gas and mineral deposits over his long career. Our thoughts and prayers are with his family, friends and loved ones during this time.”.

It opened the trading session at $31.35, the shares rose to $31.43 and dropped to $30.07, the range by which the price of stock traded the whole day. The daily chart for FCX points out that the company has recorded 123.49% gains over the past six months. However, it is still -529.67% lower than its most recent low trading price.

If we look at the average trading volume of 19.54M shares, FCX reached to a volume of 19889539 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 $29.17 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.

Argus have made an estimate for Freeport-McMoRan Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 05, 2021. While these analysts kept the previous recommendation, Johnson Rice raised their target price to Buy. The new note on the price target was released on December 17, 2020, representing the official price target for Freeport-McMoRan Inc. stock. Previously, the target price had yet another raise to $25, while Goldman analysts kept a Buy rating on FCX stock.

The Average True Range (ATR) for Freeport-McMoRan Inc. is set at 1.32, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 3.41. The Price to Book ratio for the last quarter was 4.77, with the Price to Cash per share for the same quarter was set at 1.57. Price to Free Cash Flow for FCX in the course of the last twelve months was 27.47 with Quick ratio for the last quarter at 1.30.

Trading performance analysis for FCX stock

Freeport-McMoRan Inc. [FCX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.57. With this latest performance, FCX shares gained by 24.90% in over the last four-week period, additionally plugging by 123.49% over the last 6 months – not to mention a rise of 136.19% 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 65.58, with the RSI for the last a single of trading hit 61.94, and the three-weeks RSI is set at 67.28 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 24.40, while it was recorded at 30.84 for the last single week of trading, and 15.63 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 1.30 and a Current Ratio set at 2.60.

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

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.

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

There are presently around $31,900 million, or 73.80% 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 $3.49 billion in FCX stocks shares; and STATE STREET CORP, currently with $1.94 billion in FCX stock with ownership of nearly -3.547% of the company’s market capitalization.

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Positions in Freeport-McMoRan Inc. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 366 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 128,920,406 shares. Additionally, 337 investors decreased positions by around 87,214,026 shares, while 123 investors held positions by with 834,920,411 shares. The mentioned changes placed institutional holdings at 1,051,054,843 shares, according to the latest SEC report filing. FCX stock had 142 new institutional investments in for a total of 23,835,708 shares, while 83 institutional investors sold positions of 9,640,832 shares during the same period.

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