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We Analyzed the Future Direction of Freeport-McMoRan Inc. (FCX), Here is What We Found

Freeport-McMoRan Inc. (NYSE:FCX) went up by 3.95% from its latest closing price compared to the recent 1-year high of $51.76. The company’s stock price has collected -5.22% of loss in the last five trading sessions. Barron’s reported on 09/02/22 that ConocoPhillips CEO Buys Freeport-McMoRan Stock

Is It Worth Investing in Freeport-McMoRan Inc. (NYSE :FCX) Right Now?

Freeport-McMoRan Inc. (NYSE:FCX) scored a price-to-earnings ratio above its average ratio, recording 9.23 x from its present earnings ratio. Plus, the 36-month beta value for FCX is at 2.00. Opinions of the stock are interesting as 11 analysts out of 22 who provided ratings for Freeport-McMoRan Inc. declared the stock was a “buy,” while 1 rated the stock as “overweight,” 9 rated it as “hold,” and 1 as “sell.”

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The average price from analysts is $38.41, which is $7.78 above the current price. FCX currently public float of 1.42B and currently shorts hold a 2.07% ratio of that float. Today, the average trading volume of FCX was 20.06M shares.

FCX’s Market Performance

FCX stocks went down by -5.22% for the week, with a monthly drop of -2.37% and a quarterly performance of -9.59%, while its annual performance rate touched -7.18%. The volatility ratio for the week stands at 4.57% while the volatility levels for the past 30 days are set at 4.15% for Freeport-McMoRan Inc. The simple moving average for the period of the last 20 days is 0.34% for FCX stocks with a simple moving average of -20.32% for the last 200 days.

Analysts’ Opinion of FCX

Citigroup, on the other hand, stated in their research note that they expect to see FCX reach a price target of $28, previously predicting the price at $48. The rating they have provided for FCX stocks is “Neutral” according to the report published on July 13th, 2022.

FCX Trading at 3.02% from the 50-Day Moving Average

After a stumble in the market that brought FCX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -41.10% of loss for the given period.

Volatility was left at 4.15%, however, over the last 30 days, the volatility rate increased by 4.57%, as shares surge +0.13% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +8.89% upper at present.

During the last 5 trading sessions, FCX fell by -5.22%, which changed the moving average for the period of 200-days by -15.84% in comparison to the 20-day moving average, which settled at $30.39. In addition, Freeport-McMoRan Inc. saw -26.49% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at FCX starting from Lance Ryan Michael, who purchase 31,000 shares at the price of $31.88 back on Aug 29. After this action, Lance Ryan Michael now owns 32,132 shares of Freeport-McMoRan Inc., valued at $988,314 using the latest closing price.

Lewis Sara Grootwassink, the Director of Freeport-McMoRan Inc., purchase 3,000 shares at $28.79 during a trade that took place back on Aug 03, which means that Lewis Sara Grootwassink is holding 13,800 shares at $86,355 based on the most recent closing price.

Stock Fundamentals for FCX

Current profitability levels for the company are sitting at:

  • +34.95 for the present operating margin
  • +37.07 for the gross margin

The net margin for Freeport-McMoRan Inc. stands at +19.23. Equity return is now at value 34.10, with 10.00 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 2.52.

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