Market Analysts see Freeport-McMoRan Inc. [FCX] gaining to $38. Time to buy?


Freeport-McMoRan Inc. [NYSE: FCX] loss -3.01% or -1.05 points to close at $33.82 with a heavy trading volume of 29604417 shares. The company report on June 17, 2022 that 77 Receive Scholarships From Chile’s Minera El Abra Indigenous Scholarship Program.

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Northampton, MA –News Direct– Freeport-McMoRan.

Chile’s Minera El Abra recently awarded 77 scholarships through its Indigenous Scholarship Program that funds university students and technical professionals from Indigenous communities in the Province of El Loa.

It opened the trading session at $34.54, the shares rose to $35.00 and dropped to $33.415, the range by which the price of stock traded the whole day. The daily chart for FCX points out that the company has recorded -11.37% loss over the past six months. However, it is still -13.03% lower than its most recent low trading price.

If we look at the average trading volume of 17.47M shares, FCX reached to a volume of 29604417 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 $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 2.20. 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.

Credit Suisse have made an estimate for Freeport-McMoRan Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 09, 2022. The new note on the price target was released on April 05, 2022, representing the official price target for Freeport-McMoRan Inc. stock. Previously, the target price had yet another drop from $47 to $45, while Wolfe Research kept a Outperform rating on FCX stock. On January 27, 2022, analysts increased their price target for FCX shares from 50 to 55.

The Average True Range (ATR) for Freeport-McMoRan Inc. is set at 1.86, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 2.05. The Price to Book ratio for the last quarter was 3.31, with the Price to Cash per share for the same quarter was set at 5.58. Price to Free Cash Flow for FCX in the course of the last twelve months was 6.50 with Quick ratio for the last quarter at 1.70.

Trading performance analysis for FCX stock

Freeport-McMoRan Inc. [FCX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.89. With this latest performance, FCX shares dropped by -4.30% in over the last four-week period, additionally sinking by -11.37% over the last 6 months – not to mention a drop of -2.95% 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 32.66, with the RSI for the last a single of trading hit 25.72, and the three-weeks RSI is set at 36.22 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 40.71, while it was recorded at 35.92 for the last single week of trading, and 40.45 for the last 200 days.

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

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.

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

There are presently around $38,367 million, or 80.10% of FCX stock, in the hands of institutional investors. The top three institutional holders of FCX stocks are: FMR LLC with ownership of 127,503,775, which is approximately 22.841% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 116,550,170 shares of the stock with an approximate value of $3.94 billion in FCX stocks shares; and BLACKROCK INC., currently with $3.62 billion in FCX stock with ownership of nearly -0.207% 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 691 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 87,360,420 shares. Additionally, 532 investors decreased positions by around 76,506,112 shares, while 144 investors held positions by with 970,576,613 shares. The mentioned changes placed institutional holdings at 1,134,443,145 shares, according to the latest SEC report filing. FCX stock had 221 new institutional investments in for a total of 17,240,528 shares, while 106 institutional investors sold positions of 9,685,987 shares during the same period.