Freeport-McMoRan Inc. [NYSE: FCX] gained 1.57% or 0.59 points to close at $38.08 with a heavy trading volume of 33172556 shares. The company report on February 3, 2021 that Freeport-McMoRan Announces Reinstatement of Common Stock Dividend and Adoption of Performance Based Payout Policy.
Freeport-McMoRan Inc. (NYSE: FCX) announced that its Board of Directors has reinstated a cash dividend on its common stock at an annual rate of $0.30 per share. FCX’s previous cash dividend on its common stock was $0.20 per share prior to suspending these payments in April 2020 in connection with its comprehensive response to the global pandemic. The Board intends to declare a quarterly dividend of $0.075 per share, with the initial quarterly dividend expected to be paid on May 1, 2021.
In addition, the Board has adopted a new financial policy for the allocation of cash flows aligned with its strategic objectives of maintaining a strong balance sheet, increasing cash returns to shareholders and advancing opportunities for future growth.
It opened the trading session at $37.89, the shares rose to $39.10 and dropped to $37.31, the range by which the price of stock traded the whole day. The daily chart for FCX points out that the company has recorded 159.05% gains over the past six months. However, it is still -690.04% lower than its most recent low trading price.
If we look at the average trading volume of 21.46M shares, FCX reached to a volume of 33172556 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 $31.79 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 1.90. 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 Buy, with their previous recommendation back on February 16, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on February 10, 2021, representing the official price target for Freeport-McMoRan Inc. stock. Previously, the target price had yet another raise to $30, while Argus analysts kept a Buy rating on FCX stock.
The Average True Range (ATR) for Freeport-McMoRan Inc. is set at 1.74, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 3.56. The Price to Book ratio for the last quarter was 5.44, with the Price to Cash per share for the same quarter was set at 2.75. Price to Free Cash Flow for FCX in the course of the last twelve months was 17.29 with Quick ratio for the last quarter at 1.60.
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 21.93. With this latest performance, FCX shares gained by 26.76% in over the last four-week period, additionally plugging by 159.05% over the last 6 months – not to mention a rise of 218.93% 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 76.70, with the RSI for the last a single of trading hit 83.31, and the three-weeks RSI is set at 73.07 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 28.80, while it was recorded at 35.35 for the last single week of trading, and 18.37 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 +13.65 and a Gross Margin at +17.34. Freeport-McMoRan Inc.’s Net Margin is presently recorded at +4.30.
Return on Total Capital for FCX is now 6.75, given the latest momentum, and Return on Invested Capital for the company is 3.03. Return on Equity for this stock inclined to 6.12, with Return on Assets sitting at 1.44. When it comes to the capital structure of this company, Freeport-McMoRan Inc. [FCX] has a Total Debt to Total Equity ratio set at 97.69. Additionally, FCX Total Debt to Total Capital is recorded at 49.42, with Total Debt to Total Assets ending up at 23.58. Long-Term Debt to Equity for the company is recorded at 96.98, with the Long-Term Debt to Total Capital now at 49.06.
Reflecting on the efficiency of the workforce at the company, Freeport-McMoRan Inc. [FCX] managed to generate an average of $24,327 per employee. Receivables Turnover for the company is 10.76 with a Total Asset Turnover recorded at a value of 0.33.Freeport-McMoRan Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.70.
Freeport-McMoRan Inc. [FCX]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Freeport-McMoRan Inc. posted -0.16/share EPS, while the average EPS was predicted by analysts to be reported at -0.18/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 11.10%. 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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Freeport-McMoRan Inc. go to 38.68%.
An analysis of insider ownership at Freeport-McMoRan Inc. [FCX]
There are presently around $41,535 million, or 74.90% of FCX stock, in the hands of institutional investors. The top three institutional holders of FCX stocks are: VANGUARD GROUP INC with ownership of 152,716,254, which is approximately -1.312% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 120,860,073 shares of the stock with an approximate value of $4.6 billion in FCX stocks shares; and STATE STREET CORP, currently with $2.39 billion in FCX stock with ownership of nearly -1.685% of the company’s market capitalization.
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 513 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 118,256,353 shares. Additionally, 337 investors decreased positions by around 79,386,106 shares, while 105 investors held positions by with 893,075,408 shares. The mentioned changes placed institutional holdings at 1,090,717,867 shares, according to the latest SEC report filing. FCX stock had 219 new institutional investments in for a total of 19,753,702 shares, while 64 institutional investors sold positions of 4,406,352 shares during the same period.