Freeport-McMoRan Inc. [FCX] moved down -4.44: Why It’s Important

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Freeport-McMoRan Inc. [NYSE: FCX] stock went on a downward path that fall over -4.44% on Friday, amounting to a one-week price decrease of less than -6.58%. The company report on May 6, 2022 that Minera El Abra Provides Support for Local Seafood Market.

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Northampton, MA –News Direct– Freeport-McMoRan.

A new esplanade constructed with financial support from Minera El Abra will help provide economic opportunity in the El Loa Province in northern Chile.

Over the last 12 months, FCX stock dropped by -13.57%. The one-year Freeport-McMoRan Inc. stock forecast points to a potential upside of 23.97. The average equity rating for FCX stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $57.49 billion, with 1.46 billion shares outstanding and 1.44 billion shares in the current float. Compared to the average trading volume of 18.14M shares, FCX stock reached a trading volume of 22371084 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $49.82 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 2.10. 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 2.09, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 2.34. The Price to Book ratio for the last quarter was 3.71, with the Price to Cash per share for the same quarter was set at 5.49. Price to Free Cash Flow for FCX in the course of the last twelve months was 7.39 with Quick ratio for the last quarter at 1.70.

FCX Stock Performance Analysis:

Freeport-McMoRan Inc. [FCX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.58. With this latest performance, FCX shares dropped by -21.06% in over the last four-week period, additionally plugging by 2.71% over the last 6 months – not to mention a drop of -13.57% 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 29.45, with the RSI for the last a single of trading hit 24.66, and the three-weeks RSI is set at 33.89 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 46.87, while it was recorded at 39.83 for the last single week of trading, and 40.19 for the last 200 days.

Insight into Freeport-McMoRan Inc. 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 1.70 and a Current Ratio set at 2.40.

Freeport-McMoRan Inc. [FCX] Insider Position Details

There are presently around $42,606 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 $4.06 billion in FCX stocks shares; and FMR LLC, currently with $3.93 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 652 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 84,635,335 shares. Additionally, 501 investors decreased positions by around 89,887,464 shares, while 146 investors held positions by with 950,247,663 shares. The mentioned changes placed institutional holdings at 1,124,770,462 shares, according to the latest SEC report filing. FCX stock had 208 new institutional investments in for a total of 10,493,578 shares, while 104 institutional investors sold positions of 8,926,629 shares during the same period.