BofA Securities slashes price target on The Chemours Company [CC] – find out why.

The Chemours Company [NYSE: CC] surged by $0.31 during the normal trading session on Friday and reaching a high of $33.73 during the day while it closed the day at $33.58. The company report on January 12, 2023 that Chemours Expands Nafion(TM) Ion Exchange Material Production in France To Support Growing Market Demand for Clean Hydrogen Generation.

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The Chemours Company (Chemours), a global chemistry company, today announced a $200 million investment to increase capacity and advance technology for its industry-leading Nafion™ ion exchange materials to be located at Chemours’ manufacturing facility in Villers-Saint-Paul, France. Chemours’ investment builds on the existing efforts in the U.S. to have a reliable supply chain and robust capacity to enable the hydrogen economy. It will support growing market demand for clean hydrogen generation using water electrolyzers, energy storage in flow batteries, and hydrogen conversion to power fuel cell vehicles, and contribute to European and broader global efforts to enable the clean energy transition. As part of the investment, the capabilities of Chemours’ regional manufacturing site will be expanded to support and advance technological progress and new products for the worldwide hydrogen economy.

“Our society has a tremendous opportunity to build a more sustainable future, and that must include transitioning to cleaner energy. Chemistry holds the keys to that future and will continue to play an important role in moving the hydrogen economy forward,” said Mark Newman, President and CEO at Chemours. “Chemours has chosen France for this investment in the hydrogen economy because of the strong alignment between our sustainable growth vision, the French government’s goal to create a reliable and strong hydrogen economy, and the European Union’s ambition to deliver a clean energy transition based on the objectives set in the EU Climate Law. With the outstanding team at our Villers-Saint-Paul site, the surrounding community, and the entire Hauts-de-France region, we will expand the impact of our Nafion™ Proton Exchange Membrane technology to help drive decarbonization at a global scale.”.

The Chemours Company stock has also gained 3.64% of its value over the past 7 days. However, CC stock has inclined by 22.51% in the 3 months of the year. Over the past six months meanwhile, it has gained 6.57% and gained 9.67% year-on date.

The market cap for CC stock reached $5.02 billion, with 155.38 million shares outstanding and 149.30 million shares in the current float. Compared to the average trading volume of 1.34M shares, CC reached a trading volume of 749191 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 The Chemours Company [CC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CC shares is $35.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CC stock is a recommendation set at 2.70. 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.

BofA Securities have made an estimate for The Chemours Company shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 11, 2023. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $35 to $33. The new note on the price target was released on January 10, 2023, representing the official price target for The Chemours Company stock. Previously, the target price had yet another raise to $24, while Credit Suisse analysts kept a Underperform rating on CC stock.

The Average True Range (ATR) for The Chemours Company is set at 1.12, with the Price to Sales ratio for CC stock in the period of the last 12 months amounting to 0.71. The Price to Book ratio for the last quarter was 4.07, with the Price to Cash per share for the same quarter was set at 7.80. Price to Free Cash Flow for CC in the course of the last twelve months was 15.35 with Quick ratio for the last quarter at 1.10.

CC stock trade performance evaluation

The Chemours Company [CC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.64. With this latest performance, CC shares gained by 6.57% in over the last four-week period, additionally plugging by 6.57% over the last 6 months – not to mention a drop of -6.64% 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 CC stock in for the last two-week period is set at 62.63, with the RSI for the last a single of trading hit 67.45, and the three-weeks RSI is set at 59.52 for The Chemours Company [CC]. The present Moving Average for the last 50 days of trading for this stock 31.31, while it was recorded at 32.87 for the last single week of trading, and 33.18 for the last 200 days.

The Chemours Company [CC]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and The Chemours Company [CC] shares currently have an operating margin of +11.17 and a Gross Margin at +21.80. The Chemours Company’s Net Margin is presently recorded at +9.58.

Return on Equity for this stock inclined to 64.20, with Return on Assets sitting at 8.31.

The Chemours Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.80.

Earnings per share (EPS) analysis for The Chemours Company [CC] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for The Chemours Company go to 11.10%.

The Chemours Company [CC]: Insider Ownership positions

There are presently around $3,670 million, or 76.70% of CC stock, in the hands of institutional investors. The top three institutional holders of CC stocks are: BLACKROCK INC. with ownership of 17,994,910, which is approximately 0.03% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 17,741,300 shares of the stock with an approximate value of $595.75 million in CC stocks shares; and FMR LLC, currently with $329.66 million in CC stock with ownership of nearly -21.16% of the company’s market capitalization.

211 institutional holders increased their position in The Chemours Company [NYSE:CC] by around 12,130,229 shares. Additionally, 222 investors decreased positions by around 12,503,056 shares, while 122 investors held positions by with 84,661,116 shares. The mentioned changes placed institutional holdings at 109,294,401 shares, according to the latest SEC report filing. CC stock had 52 new institutional investments in for a total of 2,365,397 shares, while 69 institutional investors sold positions of 2,262,626 shares during the same period.


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