The stock price of Freeport-McMoRan Inc (NYSE: FCX) has plunged by -1.10 when compared to previous closing price of 50.16, but the company has seen a 0.28% gain in its stock price over the last five trading sessions. The Motley Fool reported 2024-04-20 that Leading Wall Street firms believe there will be a shortage of copper in the coming years. Demand is strengthening with the growth of electric vehicles, clean energy technologies, and the electrification of everything.
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 39.08x. The 36-month beta value for FCX is also noteworthy at 2.01. There are mixed opinions on the stock, with 5 analysts rating it as a “buy,” 2 rating it as “overweight,” 12 rating it as “hold,” and 4 rating it as “sell.”
The public float for FCX is 1.41B, and at present, short sellers hold a 1.28% of that float. The average trading volume of FCX on April 22, 2024 was 14.40M shares.
FCX’s Market Performance
FCX stock saw an increase of 0.28% in the past week, with a monthly gain of 7.98% and a quarterly increase of 28.15%. The volatility ratio for the week is 3.11%, and the volatility levels for the last 30 days are 2.83% for Freeport-McMoRan Inc (FCX). The simple moving average for the last 20 days is 2.39% for FCX stock, with a simple moving average of 24.71% for the last 200 days.
Analysts’ Opinion of FCX
Many brokerage firms have already submitted their reports for FCX stocks, with BofA Securities repeating the rating for FCX by listing it as a “Buy.” The predicted price for FCX in the upcoming period, according to BofA Securities is $59 based on the research report published on April 09, 2024 of the current year 2024.
UBS, on the other hand, stated in their research note that they expect to see FCX reach a price target of $41. The rating they have provided for FCX stocks is “Neutral” according to the report published on January 16th, 2024.
Bernstein gave a rating of “Outperform” to FCX, setting the target price at $48.50 in the report published on January 08th of the current year.
FCX Trading at 15.12% 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 -5.36% of loss for the given period.
Volatility was left at 2.83%, however, over the last 30 days, the volatility rate increased by 3.11%, as shares surge +7.29% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +26.56% upper at present.
During the last 5 trading sessions, FCX rose by +0.28%, which changed the moving average for the period of 200-days by +26.62% in comparison to the 20-day moving average, which settled at $48.67. In addition, Freeport-McMoRan Inc saw 16.92% 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 3.31. 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 summary, Freeport-McMoRan Inc (FCX) has had a better performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
