Freeport-McMoRan Inc. [FCX] moved up 2.91: Why It’s Important


Freeport-McMoRan Inc. [NYSE: FCX] surged by $0.73 during the normal trading session on Friday and reaching a high of $26.13 during the day while it closed the day at $25.82. 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.

Freeport-McMoRan Inc. stock has also loss -7.52% of its value over the past 7 days. However, FCX stock has declined by -47.62% in the 3 months of the year. Over the past six months meanwhile, it has lost -42.46% and lost -37.75% year-on date.

The market cap for FCX stock reached $36.36 billion, with 1.46 billion shares outstanding and 1.44 billion shares in the current float. Compared to the average trading volume of 21.33M shares, FCX reached a trading volume of 29146867 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 $41.88 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.

Exane BNP Paribas have made an estimate for Freeport-McMoRan Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 13, 2022. While these analysts kept the previous recommendation, Citigroup dropped their target price from $48 to $28. The new note on the price target was released on July 13, 2022, representing the official price target for Freeport-McMoRan Inc. stock. On June 09, 2022, analysts increased their price target for FCX shares from 32 to 38.

The Average True Range (ATR) for Freeport-McMoRan Inc. is set at 1.61, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 1.48. The Price to Book ratio for the last quarter was 2.53, with the Price to Cash per share for the same quarter was set at 5.92. Price to Free Cash Flow for FCX in the course of the last twelve months was 4.68 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 -7.52. With this latest performance, FCX shares dropped by -29.68% in over the last four-week period, additionally sinking by -42.46% over the last 6 months – not to mention a drop of -24.46% 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 29.94, with the RSI for the last a single of trading hit 29.14, and the three-weeks RSI is set at 31.59 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 34.76, while it was recorded at 26.11 for the last single week of trading, and 39.98 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 $29,205 million, or 80.20% 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 $3.01 billion in FCX stocks shares; and BLACKROCK INC., currently with $2.76 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 July and at the time of the July reporting period, where 672 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 85,729,381 shares. Additionally, 540 investors decreased positions by around 78,057,331 shares, while 143 investors held positions by with 967,294,430 shares. The mentioned changes placed institutional holdings at 1,131,081,142 shares, according to the latest SEC report filing. FCX stock had 201 new institutional investments in for a total of 15,667,934 shares, while 126 institutional investors sold positions of 9,737,603 shares during the same period.