Freeport-McMoRan Inc [NYSE: FCX] loss -2.34% or -1.17 points to close at $48.86 with a heavy trading volume of 13570321 shares.
The daily chart for FCX points out that the company has recorded -2.18% loss over the past six months.
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If we look at the average trading volume of 12.05M shares, FCX reached to a volume of 13570321 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 $55.47 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 1.79. 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.
Scotiabank have made an estimate for Freeport-McMoRan Inc shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on September 30, 2024. While these analysts kept the previous recommendation, UBS raised their target price from $54 to $55. The new note on the price target was released on September 04, 2024, representing the official price target for Freeport-McMoRan Inc stock. Previously, the target price had yet another raise from $49.50 to $62, while Morgan Stanley kept a Overweight rating on FCX stock.
The Average True Range (ATR) for Freeport-McMoRan Inc is set at 1.57, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 2.90. 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 4.39. Price to Free Cash Flow for FCX in the course of the last twelve months was 46.87 with Quick ratio for the last quarter at 1.34.
Trading performance analysis for FCX stock
Freeport-McMoRan Inc [FCX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.80. With this latest performance, FCX shares gained by 14.53% in over the last four-week period, additionally sinking by -2.18% over the last 6 months – not to mention a rise of 36.11% 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 55.00, with the RSI for the last a single of trading hit 51.51, and the three-weeks RSI is set at 55.48 for Freeport-McMoRan Inc [FCX]. The present Moving Average for the last 50 days of trading for this stock 44.84, while it was recorded at 49.18 for the last single week of trading, and 45.53 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 1.34 and a Current Ratio set at 2.40.
Freeport-McMoRan Inc [FCX]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Freeport-McMoRan Inc posted 0.39/share EPS, while the average EPS was predicted by analysts to be reported at 0.34/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.05. 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 25.06%.
An analysis of Institutional ownership at Freeport-McMoRan Inc [FCX]
There are presently around $85.10%, or 85.64%% of FCX stock, in the hands of institutional investors. The top three institutional holders of FCX stocks are: VANGUARD GROUP INC with ownership of 121.49 million shares, which is approximately 8.4606%. BLACKROCK INC., holding 108.29 million shares of the stock with an approximate value of $$5.26 billion in FCX stocks shares; and BLACKROCK INC., currently with $$3.71 billion in FCX stock with ownership which is approximately 5.3164%.
