The stock of Freeport-McMoRan Inc (FCX) has gone up by 1.79% for the week, with a 10.23% rise in the past month and a 27.75% rise in the past quarter. The volatility ratio for the week is 2.98%, and the volatility levels for the past 30 days are 2.95% for FCX. The simple moving average for the last 20 days is 2.40% for FCX stock, with a simple moving average of 26.14% for the last 200 days.
Is It Worth Investing in Freeport-McMoRan Inc (NYSE: FCX) Right Now?
Freeport-McMoRan Inc (NYSE: FCX) has a higher price-to-earnings ratio of 44.55x compared to its average ratio, The 36-month beta value for FCX is at 2.03. Analysts have varying views on the stock, with 5 analysts rating it as a “buy,” 2 rating it as “overweight,” 12 as “hold,” and 4 as “sell.”
The public float for FCX is 1.41B, and currently, shorts hold a 1.62% of that float. The average trading volume for FCX on April 29, 2024 was 14.23M shares.
FCX) stock’s latest price update
The stock price of Freeport-McMoRan Inc (NYSE: FCX) has surged by 2.23 when compared to previous closing price of 49.40, but the company has seen a 1.79% gain in its stock price over the last five trading sessions. The Motley Fool reported 2024-04-28 that Strong demand trends and the difficulty of the industry adding copper supply support the argument for higher prices. The stock is an excellent value based on the current price of copper alone.
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 14.24% 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 -3.66% of loss for the given period.
Volatility was left at 2.95%, however, over the last 30 days, the volatility rate increased by 2.98%, as shares surge +7.40% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +35.75% upper at present.
During the last 5 trading sessions, FCX rose by +1.79%, which changed the moving average for the period of 200-days by +24.02% in comparison to the 20-day moving average, which settled at $49.53. In addition, Freeport-McMoRan Inc saw 19.02% 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:
- 0.26 for the present operating margin
- 0.3 for the gross margin
The net margin for Freeport-McMoRan Inc stands at 0.09. The total capital return value is set at 0.13. Equity return is now at value 9.97, with 3.13 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 0.65. The debt to equity ratio resting at 0.56. The interest coverage ratio of the stock is 13.89.
Currently, EBITDA for the company is 8.15 billion with net debt to EBITDA at 0.37. When we switch over and look at the enterprise to sales, we see a ratio of 3.19. The receivables turnover for the company is 10.58for trailing twelve months and the total asset turnover is 0.44. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.35.
Conclusion
In conclusion, Freeport-McMoRan Inc (FCX) has had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others 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.
