Freeport-McMoRan Inc. [FCX] Is Currently -0.81 below its 200 Period Moving Avg: What Does This Mean?

Freeport-McMoRan Inc. [NYSE: FCX] stock went on a downward path that fall over -0.81% on Friday, amounting to a one-week price increase of more than 0.88%. The company report on December 21, 2022 that Freeport-McMoRan Declares Quarterly Cash Dividends on Common Stock.


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Freeport-McMoRan Inc. (NYSE: FCX) announced today that its Board of Directors declared cash dividends of $0.15 per share on FCX’s common stock payable on February 1, 2023, to shareholders of record as of January 13, 2023. The declaration includes a base dividend of $0.075 per share and variable dividend of $0.075 per share in accordance with FCX’s performance-based payout framework. The payment of dividends is at the discretion of the Board, which will consider FCX’s financial results, cash requirements, global economic conditions and other factors it deems relevant.

Over the last 12 months, FCX stock dropped by -7.90%. The one-year Freeport-McMoRan Inc. stock forecast points to a potential upside of 2.06. The average equity rating for FCX stock is currently 2.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $54.76 billion, with 1.43 billion shares outstanding and 1.42 billion shares in the current float. Compared to the average trading volume of 14.29M shares, FCX stock reached a trading volume of 6817973 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 $38.80 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 2.40. 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.

Scotiabank have made an estimate for Freeport-McMoRan Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on November 11, 2022. The new note on the price target was released on October 06, 2022, representing the official price target for Freeport-McMoRan Inc. stock. On July 13, 2022, analysts decreased their price target for FCX shares from 48 to 28.

The Average True Range (ATR) for Freeport-McMoRan Inc. is set at 1.30, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 2.36. The Price to Book ratio for the last quarter was 3.64, with the Price to Cash per share for the same quarter was set at 5.95. Price to Free Cash Flow for FCX in the course of the last twelve months was 9.83 with Quick ratio for the last quarter at 1.80.

FCX Stock Performance Analysis:

Freeport-McMoRan Inc. [FCX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.88. With this latest performance, FCX shares dropped by -4.52% in over the last four-week period, additionally plugging by 30.85% over the last 6 months – not to mention a drop of -7.90% 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 51.20, with the RSI for the last a single of trading hit 48.33, and the three-weeks RSI is set at 53.17 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 36.45, while it was recorded at 38.23 for the last single week of trading, and 35.53 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 1.80 and a Current Ratio set at 2.60.

Freeport-McMoRan Inc. [FCX] Insider Position Details

There are presently around $42,153 million, or 79.30% of FCX stock, in the hands of institutional investors. The top three institutional holders of FCX stocks are: VANGUARD GROUP INC with ownership of 116,091,834, which is approximately -0.998% of the company’s market cap and around 0.52% of the total institutional ownership; BLACKROCK INC., holding 110,475,229 shares of the stock with an approximate value of $4.2 billion in FCX stocks shares; and FMR LLC, currently with $3.78 billion in FCX stock with ownership of nearly -17.184% of the company’s market capitalization.

Positions in Freeport-McMoRan Inc. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 570 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 75,882,669 shares. Additionally, 543 investors decreased positions by around 87,262,245 shares, while 129 investors held positions by with 946,136,209 shares. The mentioned changes placed institutional holdings at 1,109,281,123 shares, according to the latest SEC report filing. FCX stock had 118 new institutional investments in for a total of 20,666,742 shares, while 141 institutional investors sold positions of 13,884,293 shares during the same period.

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