Sunday, April 11, 2021

Freeport-McMoRan Inc. [FCX] is 35.90% higher this YTD. Is it still time to buy?

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Freeport-McMoRan Inc. [NYSE: FCX] traded at a high on 04/05/21, posting a 4.74 gain after which it closed the day’ session at $35.36. The company report on March 24, 2021 that Freeport-McMoRan Declares Quarterly Cash Dividend on Common Stock.

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Freeport-McMoRan Inc. (NYSE: FCX) announced that its Board of Directors (“Board”) declared a cash dividend of $0.075 per share on FCX’s common stock payable on May 3, 2021, to stockholders of record as of April 15, 2021.


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As previously reported on February 2, 2021, the Board adopted a financial policy for the allocation of cash flows aligned with FCX’s strategic objectives of maintaining a strong balance sheet, increasing cash returns to shareholders and advancing opportunities for future growth.

The results of the trading session contributed to over 19333183 shares changing hands. Over the past one week, the price volatility of Freeport-McMoRan Inc. stands at 3.71% while the volatility over the past one month is 4.78%.

The market cap for FCX stock reached $50.30 billion, with 1.45 billion shares outstanding and 1.44 billion shares in the current float. Compared to the average trading volume of 25.00M shares, FCX reached a trading volume of 19333183 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 $36.98 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 2.00. 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.

Morgan Stanley have made an estimate for Freeport-McMoRan Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on March 24, 2021. The new note on the price target was released on February 16, 2021, representing the official price target for Freeport-McMoRan Inc. stock. Previously, the target price had yet another raise to $37, while JP Morgan analysts kept a Overweight rating on FCX stock.

The Average True Range (ATR) for Freeport-McMoRan Inc. is set at 1.81, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 3.54. The Price to Book ratio for the last quarter was 5.05, with the Price to Cash per share for the same quarter was set at 2.57. Price to Free Cash Flow for FCX in the course of the last twelve months was 17.20 with Quick ratio for the last quarter at 1.60.

How has FCX stock performed recently?

Freeport-McMoRan Inc. [FCX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.28. With this latest performance, FCX shares gained by 8.13% in over the last four-week period, additionally plugging by 127.40% over the last 6 months – not to mention a rise of 453.36% 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 56.23, with the RSI for the last a single of trading hit 59.89, and the three-weeks RSI is set at 55.55 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 33.05, while it was recorded at 33.37 for the last single week of trading, and 21.99 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 +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.

Earnings analysis for Freeport-McMoRan Inc. [FCX]

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 40.08%.

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

There are presently around $36,857 million, or 76.40% 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 0.30% of the total institutional ownership; BLACKROCK INC., holding 120,860,073 shares of the stock with an approximate value of $4.08 billion in FCX stocks shares; and STATE STREET CORP, currently with $2.12 billion in FCX stock with ownership of nearly -1.685% 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 April and at the time of the April reporting period, where 522 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 119,607,071 shares. Additionally, 331 investors decreased positions by around 78,926,465 shares, while 100 investors held positions by with 893,188,565 shares. The mentioned changes placed institutional holdings at 1,091,722,101 shares, according to the latest SEC report filing. FCX stock had 228 new institutional investments in for a total of 20,091,268 shares, while 58 institutional investors sold positions of 4,360,473 shares during the same period.

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