Freeport-McMoRan Inc. [FCX] Is Currently 1.12 below its 200 Period Moving Avg: What Dose This Mean?

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Freeport-McMoRan Inc. [NYSE: FCX] gained 1.12% or 0.39 points to close at $35.19 with a heavy trading volume of 15916605 shares. The company report on July 23, 2021 that Freeport-McMoRan Helps Discover a New Frog Species in Papua.

Northampton, MA –News Direct– Freeport-McMoRan.

PT Freeport Indonesia (PT-FI), in partnership with The Indonesian Institute of Sciences (LIPI) and the South Australian Museum, discovered a new frog species in Mimika Regency, Papua, Indonesia.

It opened the trading session at $34.80, the shares rose to $35.26 and dropped to $34.28, the range by which the price of stock traded the whole day. The daily chart for FCX points out that the company has recorded 15.41% gains over the past six months. However, it is still -182.88% lower than its most recent low trading price.

If we look at the average trading volume of 24.18M shares, FCX reached to a volume of 15916605 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 $43.82 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.

Barclays have made an estimate for Freeport-McMoRan Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on July 08, 2021. The new note on the price target was released on June 04, 2021, representing the official price target for Freeport-McMoRan Inc. stock. Previously, the target price had yet another raise from $30 to $36, while UBS kept a Neutral rating on FCX stock.

The Average True Range (ATR) for Freeport-McMoRan Inc. is set at 1.46, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 3.59. The Price to Book ratio for the last quarter was 4.71, with the Price to Cash per share for the same quarter was set at 3.16. Price to Free Cash Flow for FCX in the course of the last twelve months was 17.44 with Quick ratio for the last quarter at 1.50.

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 5.99. With this latest performance, FCX shares dropped by -5.35% in over the last four-week period, additionally plugging by 15.41% over the last 6 months – not to mention a rise of 164.19% 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 46.07, with the RSI for the last a single of trading hit 50.13, and the three-weeks RSI is set at 45.28 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 38.42, while it was recorded at 34.00 for the last single week of trading, and 31.31 for the last 200 days.

Freeport-McMoRan Inc. [FCX]: A deeper dive into fundamental analysis

Freeport-McMoRan Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 2.40.

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

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 18.10%.

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

There are presently around $39,707 million, or 78.90% of FCX stock, in the hands of institutional investors. The top three institutional holders of FCX stocks are: BLACKROCK INC. with ownership of 136,810,440, which is approximately 13.197% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 133,116,642 shares of the stock with an approximate value of $4.68 billion in FCX stocks shares; and STATE STREET CORP, currently with $2.27 billion in FCX stock with ownership of nearly 2.512% of the company’s market capitalization.

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537 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 146,841,315 shares. Additionally, 468 investors decreased positions by around 112,769,378 shares, while 101 investors held positions by with 868,758,758 shares. The mentioned changes placed institutional holdings at 1,128,369,451 shares, according to the latest SEC report filing. FCX stock had 188 new institutional investments in for a total of 23,206,426 shares, while 101 institutional investors sold positions of 10,384,354 shares during the same period.

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