UBS lifts Freeport-McMoRan Inc [FCX] price estimate. Who else is bullish?

Freeport-McMoRan Inc [NYSE: FCX] gained 0.75% on the last trading session, reaching $38.96 price per share at the time. The company report on February 6, 2024 at 6:24 PM that Freeport-McMoRan Announces Leadership Transition.

Kathleen Quirk to become Chief Executive Officer.

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If compared to the average trading volume of 12.30M shares, FCX reached a trading volume of 9995748 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $46.17 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.

UBS have made an estimate for Freeport-McMoRan Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 16, 2024. While these analysts kept the previous recommendation, Bernstein raised their target price from $41 to $48.50. The new note on the price target was released on January 08, 2024, representing the official price target for Freeport-McMoRan Inc stock. Previously, the target price had yet another raise to $42, while JP Morgan analysts kept a Neutral rating on FCX stock.

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 2.46. The Price to Book ratio for the last quarter was 3.35, with the Price to Cash per share for the same quarter was set at 4.16. Price to Free Cash Flow for FCX in the course of the last twelve months was 122.82 with Quick ratio for the last quarter at 1.38.

Trading performance analysis for FCX stock

Freeport-McMoRan Inc [FCX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.86. With this latest performance, FCX shares dropped by -1.91% in over the last four-week period, additionally sinking by -0.38% over the last 6 months – not to mention a drop of -6.07% 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 50.54, with the RSI for the last a single of trading hit 53.01, and the three-weeks RSI is set at 49.94 for Freeport-McMoRan Inc [FCX]. The present Moving Average for the last 50 days of trading for this stock 40.01, while it was recorded at 38.69 for the last single week of trading, and 38.50 for the last 200 days.

Freeport-McMoRan Inc [FCX]: A deeper dive into fundamental analysis

Freeport-McMoRan Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.38 and a Current Ratio set at 2.42.

Freeport-McMoRan Inc [FCX]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Freeport-McMoRan Inc posted 0.52/share EPS, while the average EPS was predicted by analysts to be reported at 0.45/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 15.60%. 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 -1.07%.

An analysis of Institutional ownership at Freeport-McMoRan Inc [FCX]

The top three institutional holders of FCX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in FCX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in FCX stock with ownership which is approximately 5.8325%.