why Freeport-McMoRan Inc [FCX] is a Good Choice for Investors After New Price Target of $47.44

Freeport-McMoRan Inc [NYSE: FCX] closed the trading session at $47.02. The company report on March 27, 2024 at 8:30 AM that Freeport-McMoRan Declares Quarterly Cash Dividends on Common Stock.

Freeport-McMoRan Inc. (NYSE: FCX) announced today that its Board of Directors declared cash dividends of $0.15 per share on FCX’s common stock payable on May 1, 2024, to shareholders of record as of April 15, 2024. The declaration includes a base dividend of $0.075 per share and variable dividend of $0.075 per share in accordance with FCX’s performance-based payout framework. The payment of dividends is at the discretion of the Board, which will consider FCX’s financial results, cash requirements, global economic conditions and other factors it deems relevant.

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The stocks have a year to date performance of 10.65 percent and weekly performance of 1.69 percent. The stock has been moved at 29.14 percent over the last six months. The stock has performed 25.69 percent around the most recent 30 days and changed 9.04 percent over the most recent 3-months.

If compared to the average trading volume of 12.66M shares, FCX reached to a volume of 19920871 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 $47.44 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.

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 1.29, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 2.97. The Price to Book ratio for the last quarter was 4.04, 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 148.23 with Quick ratio for the last quarter at 1.38.

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 1.69. With this latest performance, FCX shares gained by 25.69% in over the last four-week period, additionally plugging by 29.14% over the last 6 months – not to mention a rise of 23.47% 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 71.89, with the RSI for the last a single of trading hit 75.05, and the three-weeks RSI is set at 68.43 for Freeport-McMoRan Inc [FCX]. The present Moving Average for the last 50 days of trading for this stock 40.24, while it was recorded at 45.62 for the last single week of trading, and 39.21 for the last 200 days.

Freeport-McMoRan Inc [FCX]: An insightful look at the core fundamentals

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.

Earnings per share (EPS) analysis for Freeport-McMoRan Inc [FCX] stock

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%.

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 8.2815%. 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%.