Freeport-McMoRan Inc (NYSE: FCX)’s stock price has surge by 2.48relation to previous closing price of 45.88. Nevertheless, the company has seen a 1.69% surge in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-03-26 that Freeport-McMoRan (FCX) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock’s prospects.
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 37.04x, Company’s 36-month beta value is 2.04.Analysts have differing opinions on the stock, with 7 analysts rating it as a “buy,” 5 as “overweight,” 11 as “hold,” and 0 as “sell.”
The public float for FCX is 1.41B, and currently, short sellers hold a 1.26% ratio of that floaft. The average trading volume of FCX on April 01, 2024 was 12.66M shares.
FCX’s Market Performance
FCX’s stock has seen a 1.69% increase for the week, with a 25.69% rise in the past month and a 9.04% gain in the past quarter. The volatility ratio for the week is 2.58%, and the volatility levels for the past 30 days are at 2.76% for Freeport-McMoRan Inc The simple moving average for the last 20 days is 11.52% for FCX stock, with a simple moving average of 20.33% for the last 200 days.
Analysts’ Opinion of FCX
Many brokerage firms have already submitted their reports for FCX stocks, with UBS repeating the rating for FCX by listing it as a “Neutral.” The predicted price for FCX in the upcoming period, according to UBS is $41 based on the research report published on January 16, 2024 of the current year 2024.
Bernstein, on the other hand, stated in their research note that they expect to see FCX reach a price target of $48.50, previously predicting the price at $41. The rating they have provided for FCX stocks is “Outperform” according to the report published on January 08th, 2024.
JP Morgan gave a rating of “Neutral” to FCX, setting the target price at $42 in the report published on October 17th of the previous year.
FCX Trading at 17.35% 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 able to rebound, for now settling with 1.15% of gains for the given period.
Volatility was left at 2.76%, however, over the last 30 days, the volatility rate increased by 2.58%, as shares surge +24.36% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +22.96% upper at present.
During the last 5 trading sessions, FCX rose by +1.69%, which changed the moving average for the period of 200-days by +24.33% in comparison to the 20-day moving average, which settled at $42.62. In addition, Freeport-McMoRan Inc saw 10.65% 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 Lewis Sara Grootwassink, who purchase 4,000 shares at the price of $34.90 back on May 12 ’23. After this action, Lewis Sara Grootwassink now owns 17,800 shares of Freeport-McMoRan Inc, valued at $139,597 using the latest closing price.
Stock Fundamentals for FCX
Current profitability levels for the company are sitting at:
- 0.27 for the present operating margin
- 0.31 for the gross margin
The net margin for Freeport-McMoRan Inc stands at 0.11. The total capital return value is set at 0.13. Equity return is now at value 11.36, with 3.54 for asset returns.
Based on Freeport-McMoRan Inc (FCX), the company’s capital structure generated 0.36 points at debt to capital in total, while cash flow to debt ratio is standing at 0.56. The debt to equity ratio resting at 0.56. The interest coverage ratio of the stock is 10.31.
Currently, EBITDA for the company is 8.15 billion with net debt to EBITDA at 0.49. When we switch over and look at the enterprise to sales, we see a ratio of 3.15. The receivables turnover for the company is 13.67for trailing twelve months and the total asset turnover is 0.43. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.42.
Conclusion
In a nutshell, Freeport-McMoRan Inc (FCX) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
