Freeport-McMoRan Inc. (NYSE: FCX)’s stock price has increased by 0.12 compared to its previous closing price of 35.51. Nevertheless, the company has seen a -9.24% plunge in its stock price over the last five trading sessions.
Is It Worth Investing in Freeport-McMoRan Inc. (NYSE: FCX) Right Now?
The price-to-earnings ratio for Freeport-McMoRan Inc. (NYSE: FCX) is above average at 14.92x, while the 36-month beta value is 2.02.Analysts have differing opinions on the stock, with 11 analysts rating it as a “buy,” 1 as “overweight,” 10 as “hold,” and 1 as “sell.”
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The average price point forecasted by analysts for Freeport-McMoRan Inc. (FCX) is $45.88, which is $9.98 above the current market price. The public float for FCX is 1.42B, and currently, short sellers hold a 1.39% ratio of that floaft. The average trading volume of FCX on March 16, 2023 was 12.39M shares.
FCX’s Market Performance
FCX stock saw a decrease of -9.24% in the past week, with a monthly decline of -17.28% and a quarterly a decrease of -9.29%. The volatility ratio for the week is 4.67%, and the volatility levels for the last 30 days are 3.36% for Freeport-McMoRan Inc. (FCX). The simple moving average for the last 20 days is -12.65% for FCX stock, with a simple moving average of 1.38% 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 Outperform.” The predicted price for FCX in the upcoming period, according to Scotiabank is $50 based on the research report published on March 14th of the current year 2023.
Scotiabank, on the other hand, stated in their research note that they expect to see FCX reach a price target of $34. The rating they have provided for FCX stocks is “Sector Perform” according to the report published on November 11th, 2022.
Exane BNP Paribas gave a rating of “Neutral” to FCX, setting the target price at $29 in the report published on October 06th of the previous year.
FCX Trading at -16.15% 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 -31.02% of loss for the given period.
Volatility was left at 3.36%, however, over the last 30 days, the volatility rate increased by 4.67%, as shares sank -16.88% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -7.25% lower at present.
During the last 5 trading sessions, FCX fell by -10.21%, which changed the moving average for the period of 200-days by -11.30% in comparison to the 20-day moving average, which settled at $40.34. In addition, Freeport-McMoRan Inc. saw -6.29% 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 Mikes Ellie L., who sale 11,678 shares at the price of $43.17 back on Mar 01. After this action, Mikes Ellie L. now owns 32,333 shares of Freeport-McMoRan Inc., valued at $504,117 using the latest closing price.
Currault Douglas N. II, the Senior VP & General Counsel of Freeport-McMoRan Inc., sale 75,000 shares at $40.25 during a trade that took place back on Dec 02, which means that Currault Douglas N. II is holding 136,432 shares at $3,018,832 based on the most recent closing price.
Stock Fundamentals for FCX
Current profitability levels for the company are sitting at:
- +32.36 for the present operating margin
- +34.68 for the gross margin
The net margin for Freeport-McMoRan Inc. stands at +14.83. Equity return is now at value 22.90, with 6.90 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 2.46.
Conclusion
In a nutshell, Freeport-McMoRan Inc. (FCX) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
