Wall Street Analyst Downgrade Freeport-McMoRan Inc. [FCX]. What else is Wall St. saying

Freeport-McMoRan Inc. [NYSE: FCX] gained 2.13% on the last trading session, reaching $43.73 price per share at the time. The company report on February 15, 2023 that Freeport-McMoRan Receives Copper Mark at PT Freeport Indonesia.

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Copper Mark Achieved at all Copper Producing Sites.

Freeport-McMoRan Inc. (NYSE: FCX) is pleased to announce the Copper Mark has been awarded to PT Freeport Indonesia (PT-FI). With this award, FCX has achieved the Copper Mark at all 12 of its eligible copper producing sites globally. FCX also is pleased to announce that its primary molybdenum mines, Climax and Henderson, have been awarded the Molybdenum Mark, making FCX the first primary molybdenum miner to achieve this distinction.

Freeport-McMoRan Inc. represents 1.43 billion in outstanding shares, while the company has a total market value of $61.26 billion with the latest information. FCX stock price has been found in the range of $42.74 to $43.88.

If compared to the average trading volume of 11.88M shares, FCX reached a trading volume of 10226882 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $45.53 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 1.49, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 2.69. The Price to Book ratio for the last quarter was 4.03, with the Price to Cash per share for the same quarter was set at 5.81. Price to Free Cash Flow for FCX in the course of the last twelve months was 14.45 with Quick ratio for the last quarter at 1.60.

Trading performance analysis for FCX stock

Freeport-McMoRan Inc. [FCX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.63. With this latest performance, FCX shares dropped by -2.41% in over the last four-week period, additionally plugging by 48.37% over the last 6 months – not to mention a drop of -8.41% 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 56.98, with the RSI for the last a single of trading hit 61.27, and the three-weeks RSI is set at 55.75 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 42.28, while it was recorded at 42.13 for the last single week of trading, and 35.10 for the last 200 days.

Freeport-McMoRan Inc. [FCX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Freeport-McMoRan Inc. [FCX] shares currently have an operating margin of +32.36 and a Gross Margin at +34.68. Freeport-McMoRan Inc.’s Net Margin is presently recorded at +14.83.

Return on Equity for this stock inclined to 23.44, with Return on Assets sitting at 6.98.

Freeport-McMoRan Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.50.

Freeport-McMoRan Inc. [FCX]: An earnings per share (EPS) analysis

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 FCX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Freeport-McMoRan Inc. go to -11.10%.

An analysis of insider ownership at Freeport-McMoRan Inc. [FCX]

There are presently around $49,506 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 117,165,294, which is approximately 0.925% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 109,041,052 shares of the stock with an approximate value of $4.77 billion in FCX stocks shares; and FMR LLC, currently with $4.48 billion in FCX stock with ownership of nearly 3.149% of the company’s market capitalization.

Positions in Freeport-McMoRan Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 700 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 76,489,014 shares. Additionally, 502 investors decreased positions by around 57,655,677 shares, while 164 investors held positions by with 997,933,086 shares. The mentioned changes placed institutional holdings at 1,132,077,777 shares, according to the latest SEC report filing. FCX stock had 256 new institutional investments in for a total of 21,319,159 shares, while 101 institutional investors sold positions of 9,604,563 shares during the same period.


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