Freeport-McMoRan Inc. [NYSE: FCX] price surged by 1.30 percent to reach at $0.45. The company report on April 21, 2023 at 8:00 AM that Freeport-McMoRan First-Quarter 2023 Financial and Operating Results Release Available on Its Website.
Freeport-McMoRan Inc. (NYSE: FCX) today announced that it has posted its first-quarter 2023 financial and operating results press release on the Investor Relations page of its website at https://investors.fcx.com/investors/news-releases.
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This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230420006060/en/.
A sum of 10943086 shares traded at recent session while its average daily volume was at 12.87M shares. Freeport-McMoRan Inc. shares reached a high of $34.99 and dropped to a low of $34.37 until finishing in the latest session at $34.99.
The one-year FCX stock forecast points to a potential upside of 24.62. The average equity rating for FCX stock is currently 2.30, trading closer to a bullish pattern in the stock market.
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 $46.42 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 2.30. 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 1.28, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 2.30. The Price to Book ratio for the last quarter was 3.12, with the Price to Cash per share for the same quarter was set at 4.84. Price to Free Cash Flow for FCX in the course of the last twelve months was 13.77 with Quick ratio for the last quarter at 1.70.
FCX Stock Performance Analysis:
Freeport-McMoRan Inc. [FCX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.06. With this latest performance, FCX shares dropped by -18.53% in over the last four-week period, additionally plugging by 3.18% over the last 6 months – not to mention a drop of -1.69% 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 34.32, with the RSI for the last a single of trading hit 31.31, and the three-weeks RSI is set at 37.11 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 38.87, while it was recorded at 35.80 for the last single week of trading, and 36.43 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 +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 1.70 and a Current Ratio set at 2.80.
FCX Stock EPS
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 -8.55%.
Freeport-McMoRan Inc. [FCX] Insider Position Details
There are presently around $39,919 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 0.56% of the total institutional ownership; BLACKROCK INC., holding 109,368,902 shares of the stock with an approximate value of $3.83 billion in FCX stocks shares; and FMR LLC, currently with $3.68 billion in FCX stock with ownership of nearly 2.602% 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 668 institutional holders increased their position in Freeport-McMoRan Inc. [NYSE:FCX] by around 71,954,090 shares. Additionally, 544 investors decreased positions by around 46,285,130 shares, while 172 investors held positions by with 1,022,616,503 shares. The mentioned changes placed institutional holdings at 1,140,855,723 shares, according to the latest SEC report filing. FCX stock had 176 new institutional investments in for a total of 23,795,174 shares, while 110 institutional investors sold positions of 11,249,708 shares during the same period.