Wall Street Analyst Upgrade Freeport-McMoRan Inc. [FCX]. What else is Wall St. saying

Must read

Freeport-McMoRan Inc. [NYSE: FCX] jumped around 0.45 points on Friday, while shares priced at $30.49 at the close of the session, up 1.50%. The company report on January 11, 2021 that Freeport-McMoRan Mourns the Passing of its Former Chairman, James Robert “Jim Bob” Moffett.

Get the hottest stocks to trade every day before the market opens 100% free. Click here now.

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.”.

Freeport-McMoRan Inc. stock is now 17.18% up from its year-to-date (YTD) trading value. FCX Stock saw the intraday high of $30.64 and lowest of $28.84 per share. The company’s 52-week high price is 32.49, which means current price is +15.21% above from all time high which was touched on 01/14/21.

Compared to the average trading volume of 19.82M shares, FCX reached a trading volume of 17445362 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $30.70 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 1.38, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 3.21. The Price to Book ratio for the last quarter was 4.79, with the Price to Cash per share for the same quarter was set at 1.68. Price to Free Cash Flow for FCX in the course of the last twelve months was 25.79 with Quick ratio for the last quarter at 1.30.

How has FCX stock performed recently?

Freeport-McMoRan Inc. [FCX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.69. With this latest performance, FCX shares gained by 22.65% in over the last four-week period, additionally plugging by 128.90% over the last 6 months – not to mention a rise of 154.72% 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 61.36, with the RSI for the last a single of trading hit 57.50, and the three-weeks RSI is set at 63.60 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 25.35, while it was recorded at 30.71 for the last single week of trading, and 16.11 for the last 200 days.

Freeport-McMoRan Inc. [FCX]: Deeper insight into the 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.

Earnings analysis for Freeport-McMoRan Inc. [FCX]

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.

Insider trade positions for Freeport-McMoRan Inc. [FCX]

There are presently around $32,039 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 $3.51 billion in FCX stocks shares; and STATE STREET CORP, currently with $1.95 billion in FCX stock with ownership of nearly -3.547% of the company’s market capitalization.

Get the hottest stocks to trade every day before the market opens 100% free. Click here now.

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 375 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 129,164,758 shares. Additionally, 335 investors decreased positions by around 85,808,744 shares, while 123 investors held positions by with 835,827,992 shares. The mentioned changes placed institutional holdings at 1,050,801,494 shares, according to the latest SEC report filing. FCX stock had 145 new institutional investments in for a total of 24,044,123 shares, while 81 institutional investors sold positions of 8,305,369 shares during the same period.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on skype
Skype
Share on reddit
Reddit

Leave a Comment

Your email address will not be published. Required fields are marked *

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam