Freeport-McMoRan Inc. [FCX] is -33.07% lower this YTD. Is it still time to buy?

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Freeport-McMoRan Inc. [NYSE: FCX] traded at a low on 07/22/22, posting a -3.98 loss after which it closed the day’ session at $27.76. The company report on July 21, 2022 that Freeport-McMoRan Second-Quarter 2022 Financial and Operating Results Release Available on its Website.


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Freeport-McMoRan Inc. (NYSE: FCX) today announced that it has posted its second-quarter 2022 financial and operating results press release on the Investor Relations page of its website at https://investors.fcx.com/investors/news-releases.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220720006093/en/.

The results of the trading session contributed to over 20875402 shares changing hands. Over the past one week, the price volatility of Freeport-McMoRan Inc. stands at 5.37% while the volatility over the past one month is 4.69%.

The market cap for FCX stock reached $39.09 billion, with 1.46 billion shares outstanding and 1.44 billion shares in the current float. Compared to the average trading volume of 22.03M shares, FCX reached a trading volume of 20875402 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 $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 1.64, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 1.59. The Price to Book ratio for the last quarter was 2.72, 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 5.03 with Quick ratio for the last quarter at 1.70.

How has FCX stock performed recently?

Freeport-McMoRan Inc. [FCX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.51. With this latest performance, FCX shares dropped by -11.11% in over the last four-week period, additionally sinking by -35.44% over the last 6 months – not to mention a drop of -19.74% 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 40.51, with the RSI for the last a single of trading hit 43.91, and the three-weeks RSI is set at 39.01 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 33.77, while it was recorded at 28.23 for the last single week of trading, and 39.87 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 1.70 and a Current Ratio set at 2.40.

Insider trade positions for Freeport-McMoRan Inc. [FCX]

There are presently around $31,406 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 $3.24 billion in FCX stocks shares; and BLACKROCK INC., currently with $2.97 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 654 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 85,818,430 shares. Additionally, 556 investors decreased positions by around 78,263,948 shares, while 145 investors held positions by with 967,239,993 shares. The mentioned changes placed institutional holdings at 1,131,322,371 shares, according to the latest SEC report filing. FCX stock had 181 new institutional investments in for a total of 14,990,364 shares, while 146 institutional investors sold positions of 9,805,475 shares during the same period.

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