Freeport-McMoRan Inc. (NYSE: FCX) has seen a decline in its stock price by -3.92 in relation to its previous close of 34.68. However, the company has experienced a -6.98% decline in its stock price over 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?
The price-to-earnings ratio for Freeport-McMoRan Inc. (NYSE: FCX) is 19.36x, which is above its average ratio. Moreover, the 36-month beta value for FCX is 1.99. Analysts have varying opinions on the stock, with 11 analysts rating it as a “buy,” 1 as “overweight,” 9 as “hold,” and 1 as “sell.”
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The average price recommended by analysts for Freeport-McMoRan Inc. (FCX) is $46.22, which is $13.1 above the current market price. The public float for FCX is 1.42B and currently, short sellers hold a 1.43% of that float. On May 24, 2023, FCX’s average trading volume was 12.87M shares.
FCX’s Market Performance
FCX stock saw a decrease of -6.98% in the past week, with a monthly decline of -11.74% and a quarterly a decrease of -17.76%. The volatility ratio for the week is 2.35%, and the volatility levels for the last 30 days are 2.77% for Freeport-McMoRan Inc. (FCX). The simple moving average for the last 20 days is -7.80% for FCX stock, with a simple moving average of -8.78% for the last 200 days.
FCX Trading at -12.74% 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 -28.57% of loss for the given period.
Volatility was left at 2.77%, however, over the last 30 days, the volatility rate increased by 2.35%, as shares sank -10.14% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -11.93% lower at present.
During the last 5 trading sessions, FCX fell by -6.48%, which changed the moving average for the period of 200-days by +9.41% in comparison to the 20-day moving average, which settled at $35.95. In addition, Freeport-McMoRan Inc. saw -12.01% 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 Lewis Sara Grootwassink, who purchase 4,000 shares at the price of $34.90 back on May 12. After this action, Lewis Sara Grootwassink now owns 17,800 shares of Freeport-McMoRan Inc., valued at $139,597 using the latest closing price.
Mikes Ellie L., the Chief Accounting Officer of Freeport-McMoRan Inc., sale 11,678 shares at $43.17 during a trade that took place back on Mar 01, which means that Mikes Ellie L. is holding 32,333 shares at $504,117 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. The total capital return value is set at 22.01, while invested capital returns managed to touch 14.19. Equity return is now at value 16.90, with 5.10 for asset returns.
Based on Freeport-McMoRan Inc. (FCX), the company’s capital structure generated 70.41 points at debt to equity in total, while total debt to capital is 41.32. Total debt to assets is 21.44, with long-term debt to equity ratio resting at 63.50. Finally, the long-term debt to capital ratio is 37.26.
When we switch over and look at the enterprise to sales, we see a ratio of 2.43, with the company’s debt to enterprise value settled at 0.16. The receivables turnover for the company is 13.19 and the total asset turnover is 0.47. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.46.
Conclusion
To wrap up, the performance of Freeport-McMoRan Inc. (FCX) has been bad in recent times. The stock has received a mixed of “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.
