Freeport-McMoRan Inc. [NYSE: FCX] surged by $0.21 during the normal trading session on Friday and reaching a high of $43.46 during the day while it closed the day at $43.16. The company report on March 22, 2023 that Freeport-McMoRan Declares Quarterly Cash Dividends on Common Stock.
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 May 1, 2023, to shareholders of record as of April 14, 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.
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Freeport-McMoRan Inc. stock has also gained 7.32% of its value over the past 7 days. However, FCX stock has declined by -4.13% in the 3 months of the year. Over the past six months meanwhile, it has gained 50.57% and gained 13.98% year-on date.
The market cap for FCX stock reached $61.45 billion, with 1.43 billion shares outstanding and 1.42 billion shares in the current float. Compared to the average trading volume of 12.65M shares, FCX reached a trading volume of 11631812 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 $45.83 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 Outperform, with their previous recommendation back on March 14, 2023. The new note on the price target was released on November 11, 2022, representing the official price target for Freeport-McMoRan Inc. stock. Previously, the target price had yet another raise to $29, while Exane BNP Paribas analysts kept a Neutral rating on FCX stock.
The Average True Range (ATR) for Freeport-McMoRan Inc. is set at 1.32, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 2.70. The Price to Book ratio for the last quarter was 3.97, with the Price to Cash per share for the same quarter was set at 5.72. Price to Free Cash Flow for FCX in the course of the last twelve months was 14.49 with Quick ratio for the last quarter at 1.60.
FCX stock trade performance evaluation
Freeport-McMoRan Inc. [FCX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.32. With this latest performance, FCX shares gained by 21.77% in over the last four-week period, additionally plugging by 50.57% over the last 6 months – not to mention a drop of -9.14% 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 67.44, with the RSI for the last a single of trading hit 76.96, and the three-weeks RSI is set at 61.17 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 40.60, while it was recorded at 41.70 for the last single week of trading, and 35.42 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 +32.36 and a Gross Margin at +34.68. Freeport-McMoRan Inc.’s Net Margin is presently recorded at +14.83.
Return on Total Capital for FCX is now 22.01, given the latest momentum, and Return on Invested Capital for the company is 14.19. Return on Equity for this stock inclined to 23.44, with Return on Assets sitting at 6.98. When it comes to the capital structure of this company, Freeport-McMoRan Inc. [FCX] has a Total Debt to Total Equity ratio set at 70.41. Additionally, FCX Total Debt to Total Capital is recorded at 41.32, with Total Debt to Total Assets ending up at 21.44. Long-Term Debt to Equity for the company is recorded at 63.50, with the Long-Term Debt to Total Capital now at 37.26.
Reflecting on the efficiency of the workforce at the company, Freeport-McMoRan Inc. [FCX] managed to generate an average of $135,195 per employee. Receivables Turnover for the company is 13.19 with a Total Asset Turnover recorded at a value of 0.47.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.
Earnings per share (EPS) analysis for Freeport-McMoRan Inc. [FCX] 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 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%.
Freeport-McMoRan Inc. [FCX]: Insider Ownership positions
There are presently around $48,546 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 0.59% of the total institutional ownership; BLACKROCK INC., holding 109,041,052 shares of the stock with an approximate value of $4.71 billion in FCX stocks shares; and FMR LLC, currently with $4.42 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 Friday and at the time of the Friday reporting period, where 672 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 74,281,429 shares. Additionally, 512 investors decreased positions by around 57,464,282 shares, while 163 investors held positions by with 993,042,591 shares. The mentioned changes placed institutional holdings at 1,124,788,302 shares, according to the latest SEC report filing. FCX stock had 239 new institutional investments in for a total of 20,489,159 shares, while 106 institutional investors sold positions of 9,456,995 shares during the same period.