Freeport-McMoRan Inc. [FCX] is -2.51% lower this YTD. Is it still time to buy?


Freeport-McMoRan Inc. [NYSE: FCX] slipped around -1.29 points on Friday, while shares priced at $40.55 at the close of the session, down -3.08%. 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.

Freeport-McMoRan Inc. stock is now -2.51% down from its year-to-date (YTD) trading value. FCX Stock saw the intraday high of $43.50 and lowest of $40.38 per share. The company’s 52-week high price is 51.91, which means current price is +16.06% above from all time high which was touched on 03/25/22.

Compared to the average trading volume of 18.12M shares, FCX reached a trading volume of 17159646 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 $50.05 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 2.19, 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 4.25, with the Price to Cash per share for the same quarter was set at 5.39. Price to Free Cash Flow for FCX in the course of the last twelve months was 9.29 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 -3.25. With this latest performance, FCX shares dropped by -20.02% in over the last four-week period, additionally plugging by 6.77% over the last 6 months – not to mention a rise of 7.88% 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 32.60, with the RSI for the last a single of trading hit 27.50, and the three-weeks RSI is set at 37.05 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 47.18, while it was recorded at 41.18 for the last single week of trading, and 40.04 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 +34.95 and a Gross Margin at +37.07. Freeport-McMoRan Inc.’s Net Margin is presently recorded at +19.23.

Return on Equity for this stock inclined to 35.60, with Return on Assets sitting at 9.54.

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 $45,535 million, or 79.40% of FCX stock, in the hands of institutional investors. The top three institutional holders of FCX stocks are: VANGUARD GROUP INC with ownership of 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 $4.35 billion in FCX stocks shares; and FMR LLC, currently with $4.21 billion in FCX stock with ownership of nearly 23.757% of the company’s market capitalization.

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 636 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 84,073,778 shares. Additionally, 494 investors decreased positions by around 89,703,263 shares, while 152 investors held positions by with 949,158,891 shares. The mentioned changes placed institutional holdings at 1,122,935,932 shares, according to the latest SEC report filing. FCX stock had 213 new institutional investments in for a total of 9,874,311 shares, while 102 institutional investors sold positions of 9,229,226 shares during the same period.