Freeport-McMoRan Inc. [NYSE: FCX] stock went on a downward path that fall over -0.45% on Monday, amounting to a one-week price increase of more than 0.20%. The company report on September 14, 2023 at 4:30 PM that Freeport-McMoRan Publishes Updated Climate Report.
Freeport-McMoRan Inc. (NYSE: FCX) today announced the publication of its annual Climate Report outlining FCX’s ongoing progress to advance its climate strategy focused on reducing its greenhouse gas (GHG) emissions, enhancing its resilience to climate risks and contributing responsibly produced copper to the global economy.
Richard C. Adkerson, Chairman of the Board and Chief Executive Officer said: “Copper’s essential role in current and emerging clean energy technologies is critical to global decarbonization. FCX is making a positive impact on the global energy transition by executing on our own climate strategy and delivering the responsibly produced copper necessary to support a net zero future.”.
Over the last 12 months, FCX stock rose by 36.03%. The one-year Freeport-McMoRan Inc. stock forecast points to a potential upside of 13.22. The average equity rating for FCX stock is currently 2.30, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $58.06 billion, with 1.43 billion shares outstanding and 1.43 billion shares in the current float. Compared to the average trading volume of 10.59M shares, FCX stock reached a trading volume of 6681828 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 $46.31 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.
Bernstein have made an estimate for Freeport-McMoRan Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on June 29, 2023.
The Average True Range (ATR) for Freeport-McMoRan Inc. is set at 1.06, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 2.65. The Price to Book ratio for the last quarter was 3.56, with the Price to Cash per share for the same quarter was set at 4.63. Price to Free Cash Flow for FCX in the course of the last twelve months was 105.37 with Quick ratio for the last quarter at 1.70.
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 0.20. With this latest performance, FCX shares gained by 1.44% in over the last four-week period, additionally plugging by 11.34% over the last 6 months – not to mention a rise of 36.03% 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 49.74, with the RSI for the last a single of trading hit 50.57, and the three-weeks RSI is set at 49.70 for Freeport-McMoRan Inc. [FCX]. The present Moving Average for the last 50 days of trading for this stock 40.90, while it was recorded at 40.21 for the last single week of trading, and 39.97 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 2.90.
Freeport-McMoRan Inc. [FCX] Institutonal Ownership Details
The top three institutional holders of FCX stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in FCX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in FCX stock with ownership which is approximately 5.7381%.