Freeport-McMoRan Inc [FCX] Is Currently 0.63 below its 200 Period Moving Avg: What Does This Mean?

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Freeport-McMoRan Inc [NYSE: FCX] price surged by 0.63 percent to reach at $0.22. The company report on October 30, 2023 at 12:27 PM that Richard C. Adkerson Inducted into the National Mining Hall of Fame.

Freeport-McMoRan Inc. (NYSE: FCX) today announced Richard C. Adkerson, Chairman and Chief Executive Officer, has been inducted into the National Mining Hall of Fame in recognition of his contributions to the global mining industry.

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Adkerson is a long-standing member and past chair of the International Council on Mining and Metals (ICMM), where he has championed initiatives to strengthen environmental and social performance in the mining industry. He is the only person to have served two full terms as Chairman of ICMM.

A sum of 7803701 shares traded at recent session while its average daily volume was at 9.80M shares. Freeport-McMoRan Inc shares reached a high of $35.60 and dropped to a low of $35.155 until finishing in the latest session at $35.37.

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The one-year FCX stock forecast points to a potential upside of 24.11. The average equity rating for FCX stock is currently 2.00, 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 $46.61 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 2.00. 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.

JP Morgan have made an estimate for Freeport-McMoRan Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 17, 2023.

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The Average True Range (ATR) for Freeport-McMoRan Inc is set at 0.99, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 2.27. The Price to Book ratio for the last quarter was 3.08, with the Price to Cash per share for the same quarter was set at 4.49. Price to Free Cash Flow for FCX in the course of the last twelve months was 97.70 with Quick ratio for the last quarter at 1.67.

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 3.91. With this latest performance, FCX shares dropped by -3.35% in over the last four-week period, additionally sinking by -2.88% over the last 6 months – not to mention a rise of 12.90% 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 49.63, with the RSI for the last a single of trading hit 56.67, and the three-weeks RSI is set at 46.33 for Freeport-McMoRan Inc [FCX]. The present Moving Average for the last 50 days of trading for this stock 37.12, while it was recorded at 34.60 for the last single week of trading, and 39.19 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 1.67 and a Current Ratio set at 2.90.


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 -14.34%.

Freeport-McMoRan Inc [FCX] Institutonal Ownership Details

The top three institutional holders of FCX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in FCX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in FCX stock with ownership which is approximately 5.7994%.

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