Freeport-McMoRan Inc. [FCX] Stock trading around $28.00 per share: What’s Next?


Freeport-McMoRan Inc. [NYSE: FCX] closed the trading session at $28.00 on 07/08/22. The day’s price range saw the stock hit a low of $27.99, while the highest price level was $29.22. The company report on July 1, 2022 that PT Freeport Indonesia Wins National Award for Sustainable Business Practices.

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Northampton, MA –News Direct– Freeport-McMoRan.

PT Freeport Indonesia recently received the nationally recognized Sustainable Business Practices Award in the Highly Commended Category, making it one of the 20 companies and the only one from Papua getting recognition for its sustainable practices in the business sector.

The stocks have a year to date performance of -32.69 percent and weekly performance of -4.31 percent. The stock has been moved at -32.60 percent over the last six months. The stock has performed -35.47 percent around the most recent 30 days and changed -41.65 percent over the most recent 3-months.

If compared to the average trading volume of 20.13M shares, FCX reached to a volume of 17484491 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 $44.03 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.

Wolfe Research have made an estimate for Freeport-McMoRan Inc. shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on July 07, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price from $32 to $38. The new note on the price target was released on June 09, 2022, representing the official price target for Freeport-McMoRan Inc. stock. Previously, the target price had yet another raise to $50, while Exane BNP Paribas analysts kept a Neutral rating on FCX stock. On January 27, 2022, analysts decreased their price target for FCX shares from 47 to 45.

The Average True Range (ATR) for Freeport-McMoRan Inc. is set at 1.71, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 1.72. The Price to Book ratio for the last quarter was 2.74, with the Price to Cash per share for the same quarter was set at 5.51. Price to Free Cash Flow for FCX in the course of the last twelve months was 5.45 with Quick ratio for the last quarter at 1.70.

FCX stock trade performance evaluation

Freeport-McMoRan Inc. [FCX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.31. With this latest performance, FCX shares dropped by -35.47% in over the last four-week period, additionally sinking by -32.60% over the last 6 months – not to mention a drop of -19.02% 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 31.39, with the RSI for the last a single of trading hit 30.64, and the three-weeks RSI is set at 33.20 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 36.24, while it was recorded at 28.21 for the last single week of trading, and 40.15 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 +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 Ownership positions

There are presently around $31,721 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 $3.26 billion in FCX stocks shares; and BLACKROCK INC., currently with $3.0 billion in FCX stock with ownership of nearly -0.207% of the company’s market capitalization.

683 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 87,025,722 shares. Additionally, 533 investors decreased positions by around 76,251,083 shares, while 139 investors held positions by with 969,614,144 shares. The mentioned changes placed institutional holdings at 1,132,890,949 shares, according to the latest SEC report filing. FCX stock had 213 new institutional investments in for a total of 17,004,569 shares, while 109 institutional investors sold positions of 9,674,558 shares during the same period.