JP Morgan slashes price target on Freeport-McMoRan Inc [FCX] – find out why.

Freeport-McMoRan Inc [NYSE: FCX] closed the trading session at $36.59 on 11/27/23. The day’s price range saw the stock hit a low of $36.16, while the highest price level was $36.67. The company report on November 16, 2023 at 8:24 PM that Freeport-McMoRan Recommends Rejection of Below-Market Price Mini-Tender Offer.

Freeport-McMoRan Inc. (NYSE: FCX) has been notified by TRC Capital Investment Corporation (TRC) that it is making an unsolicited “mini-tender” offer to FCX shareholders to purchase up to 3,000,000 shares of FCX’s common stock at a current below-market price of $32.20 per share. TRC’s offer price is approximately 4.4% below the $33.69 per share closing price of FCX’s common stock on November 10, 2023, the last trading day prior to the date of the offer, and approximately 10% below the $35.54 per share closing price of FCX’s common stock on November 16, 2023.

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FCX recommends that shareholders not tender their shares. FCX recommends that shareholders who have not responded to TRC’s offer take no action. According to TRC’s current offer documents, FCX shareholders who tender (or have already tendered) shares may withdraw their shares at any time prior to 12:01 a.m. New York City time on December 13, 2023, by following the procedures described in the offer documents.

The stocks have a year to date performance of -3.00 percent and weekly performance of 1.64 percent. The stock has been moved at 5.64 percent over the last six months. The stock has performed 8.54 percent around the most recent 30 days and changed -5.89 percent over the most recent 3-months.

If compared to the average trading volume of 9.89M shares, FCX reached to a volume of 8248362 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 $45.68 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 2.05. 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.

The Average True Range (ATR) for Freeport-McMoRan Inc is set at 0.96, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 2.35. The Price to Book ratio for the last quarter was 3.19, 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 101.10 with Quick ratio for the last quarter at 1.67.

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 1.64. With this latest performance, FCX shares gained by 8.54% in over the last four-week period, additionally plugging by 5.64% over the last 6 months – not to mention a drop of -3.10% 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 57.82, with the RSI for the last a single of trading hit 62.32, and the three-weeks RSI is set at 53.94 for Freeport-McMoRan Inc [FCX]. The present Moving Average for the last 50 days of trading for this stock 35.77, while it was recorded at 36.79 for the last single week of trading, and 38.56 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 1.67 and a Current Ratio set at 2.90.

Freeport-McMoRan Inc [FCX]: Institutional Ownership

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%.