why Freeport-McMoRan Inc. [FCX] is a Good Choice for Investors After New Price Target of $44.56

Related

Share

Freeport-McMoRan Inc. [NYSE: FCX] closed the trading session at $38.54 on 10/18/21. The day’s price range saw the stock hit a low of $37.39, while the highest price level was $39.045. The company report on September 30, 2021 that Freeport-McMoRan Publishes Climate Report and Announces Net Zero Aspiration.

Freeport-McMoRan Inc. (NYSE: FCX) announced the publication of its updated Climate Report which details the work underway across its global business to reduce greenhouse gas (GHG) emissions, improve energy efficiency, advance the use of renewable energy and understand and enhance the company’s resilience to future climate-related risks. The Climate Report reflects the company’s continued progress towards alignment with the current recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


Richard C. Adkerson, Chairman and Chief Executive Officer said: “As both a major consumer of energy, and as one of the world’s largest producers of the copper essential to enable the global energy transition, Freeport aspires to participate in, and positively contribute to, a 2050 net zero economy. Our path to net zero carbon emissions will require industry-wide new technological solutions and innovation. We embrace these challenges and are focused on achieving meaningful progress through our internal efforts and through collaboration with industry partners. We are in the process of integrating our climate initiatives into our long-term business plans as we work to responsibly produce copper for the benefit of all stakeholders.”.

The stocks have a year to date performance of 48.12 percent and weekly performance of 9.40 percent. The stock has been moved at 7.41 percent over the last six months. The stock has performed 16.61 percent around the most recent 30 days and changed 16.97 percent over the most recent 3-months.

If compared to the average trading volume of 19.96M shares, FCX reached to a volume of 23057821 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $44.56 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.

Exane BNP Paribas have made an estimate for Freeport-McMoRan Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 06, 2021. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. The new note on the price target was released on September 29, 2021, representing the official price target for Freeport-McMoRan Inc. stock. Previously, the target price had yet another raise to $29, while Credit Suisse analysts kept a Underperform rating on FCX stock.

The Average True Range (ATR) for Freeport-McMoRan Inc. is set at 1.62, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 2.87. 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 4.48. Price to Free Cash Flow for FCX in the course of the last twelve months was 9.20 with Quick ratio for the last quarter at 1.50.

FCX stock trade performance evaluation

Freeport-McMoRan Inc. [FCX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.40. With this latest performance, FCX shares gained by 16.61% in over the last four-week period, additionally plugging by 7.41% over the last 6 months – not to mention a rise of 124.72% 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 66.65, with the RSI for the last a single of trading hit 74.27, and the three-weeks RSI is set at 61.49 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 34.83, while it was recorded at 36.95 for the last single week of trading, and 35.52 for the last 200 days.

Freeport-McMoRan Inc. [FCX]: An insightful look at the core 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 1.50 and a Current Ratio set at 2.30.

Earnings per share (EPS) analysis for Freeport-McMoRan Inc. [FCX] stock

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%.

Freeport-McMoRan Inc. [FCX]: Insider Ownership positions

There are presently around $43,569 million, or 78.40% of FCX stock, in the hands of institutional investors. The top three institutional holders of FCX stocks are: BLACKROCK INC. with ownership of 128,022,385, which is approximately -6.424% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 113,993,092 shares of the stock with an approximate value of $4.39 billion in FCX stocks shares; and FMR LLC, currently with $2.96 billion in FCX stock with ownership of nearly 23.155% of the company’s market capitalization.

>> 7 Top Picks for the Post-Pandemic Economy <<

Positions in Freeport-McMoRan Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 604 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 111,830,960 shares. Additionally, 450 investors decreased positions by around 121,352,456 shares, while 121 investors held positions by with 897,310,067 shares. The mentioned changes placed institutional holdings at 1,130,493,483 shares, according to the latest SEC report filing. FCX stock had 182 new institutional investments in for a total of 32,796,418 shares, while 93 institutional investors sold positions of 16,405,940 shares during the same period.

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