why Freeport-McMoRan Inc. [FCX] is a Good Choice for Investors After New Price Target of $50.26

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Freeport-McMoRan Inc. [NYSE: FCX] traded at a low on 04/22/22, posting a -6.76 loss after which it closed the day’ session at $41.91. The company report on April 22, 2022 that Freeport-McMoRan United Way Campaign Tops $10 Million.

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Northampton, MA –News Direct– Freeport-McMoRan.

Freeport-McMoRan and its employees continued the tradition of giving back to the community by pledging more than $3.8 million in 2021, which raised more than $10 million when combined with the company’s matching funds.

The results of the trading session contributed to over 32520099 shares changing hands. Over the past one week, the price volatility of Freeport-McMoRan Inc. stands at 5.56% while the volatility over the past one month is 3.84%.

The market cap for FCX stock reached $72.59 billion, with 1.47 billion shares outstanding and 1.44 billion shares in the current float. Compared to the average trading volume of 18.39M shares, FCX reached a trading volume of 32520099 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 $50.26 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.

Exane BNP Paribas have made an estimate for Freeport-McMoRan Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 05, 2022. While these analysts kept the previous recommendation, Wolfe Research dropped their target price from $47 to $45. The new note on the price target was released on January 27, 2022, representing the official price target for Freeport-McMoRan Inc. stock. Previously, the target price had yet another raise from $50 to $55, while Jefferies kept a Buy rating on FCX stock. On January 27, 2022, analysts decreased their price target for FCX shares from 44 to 40.

The Average True Range (ATR) for Freeport-McMoRan Inc. is set at 2.10, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 3.18. The Price to Book ratio for the last quarter was 4.39, with the Price to Cash per share for the same quarter was set at 4.66. Price to Free Cash Flow for FCX in the course of the last twelve months was 11.11 with Quick ratio for the last quarter at 1.80.

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 -14.80. With this latest performance, FCX shares dropped by -15.73% in over the last four-week period, additionally plugging by 9.44% over the last 6 months – not to mention a rise of 15.07% 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 31.77, with the RSI for the last a single of trading hit 23.72, and the three-weeks RSI is set at 37.46 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 47.40, while it was recorded at 47.63 for the last single week of trading, and 39.90 for the last 200 days.

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

Freeport-McMoRan Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 2.50.

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

There are presently around $47,078 million, or 79.10% of FCX stock, in the hands of institutional investors. The top three institutional holders of FCX stocks are: VANGUARD GROUP INC with ownership of 114,741,622, which is approximately 0.035% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 107,218,394 shares of the stock with an approximate value of $4.49 billion in FCX stocks shares; and FMR LLC, currently with $4.35 billion in FCX stock with ownership of nearly 23.757% of the company’s market capitalization.

624 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 89,340,684 shares. Additionally, 490 investors decreased positions by around 89,784,977 shares, while 150 investors held positions by with 944,180,135 shares. The mentioned changes placed institutional holdings at 1,123,305,796 shares, according to the latest SEC report filing. FCX stock had 210 new institutional investments in for a total of 15,279,043 shares, while 101 institutional investors sold positions of 9,183,705 shares during the same period.