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Can Freeport-McMoRan Inc. (FCX) Remain Competitive?

Freeport-McMoRan Inc. (NYSE:FCX) went up by 2.88% from its latest closing price compared to the recent 1-year high of $51.54. The company’s stock price has collected 0.69% of gains in the last five trading sessions. Barron’s reported on 10/17/22 that These Mining Stocks Have Taken a Beating. But Their Long-Term Outlook Shines.

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 17.20 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 10 analysts out of 22 who provided ratings for Freeport-McMoRan Inc. declared the stock was a “buy,” while 1 rated the stock as “overweight,” 10 rated it as “hold,” and 1 as “sell.”

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The average price from analysts is $41.42, which is -$4.26 below the current price. FCX currently public float of 1.42B and currently shorts hold a 1.58% ratio of that float. Today, the average trading volume of FCX was 14.06M shares.

FCX’s Market Performance

FCX stocks went up by 0.69% for the week, with a monthly jump of 21.75% and a quarterly performance of 60.39%, while its annual performance rate touched 3.91%. The volatility ratio for the week stands at 3.73% while the volatility levels for the past 30 days are set at 3.22% for Freeport-McMoRan Inc. The simple moving average for the period of the last 20 days is 10.98% for FCX stocks with a simple moving average of 29.95% for the last 200 days.

Analysts’ Opinion of FCX

Many brokerage firms have already submitted their reports for FCX stocks, with Scotiabank repeating the rating for FCX by listing it as a “Sector Perform.” The predicted price for FCX in the upcoming period, according to Scotiabank is $34 based on the research report published on November 11th of the previous year 2022.

Exane BNP Paribas, on the other hand, stated in their research note that they expect to see FCX reach a price target of $29. The rating they have provided for FCX stocks is “Neutral” according to the report published on October 06th, 2022.

FCX Trading at 16.47% 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 -11.90% of loss for the given period.

Volatility was left at 3.22%, however, over the last 30 days, the volatility rate increased by 3.73%, as shares surge +20.13% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +31.81% upper at present.

During the last 5 trading sessions, FCX rose by +0.69%, which changed the moving average for the period of 200-days by -10.79% in comparison to the 20-day moving average, which settled at $41.35. In addition, Freeport-McMoRan Inc. saw 19.70% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at FCX starting from Currault Douglas N. II, who sale 75,000 shares at the price of $40.25 back on Dec 02. After this action, Currault Douglas N. II now owns 136,432 shares of Freeport-McMoRan Inc., valued at $3,018,832 using the latest closing price.

Lance Ryan Michael, the Director of Freeport-McMoRan Inc., purchase 31,000 shares at $31.88 during a trade that took place back on Aug 29, which means that Lance Ryan Michael is holding 32,132 shares at $988,314 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 26.30, with 7.90 for asset returns.

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

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