The stock price of Freeport-McMoRan Inc (NYSE: FCX) has dropped by -0.57 compared to previous close of 49.36. Despite this, the company has seen a gain of 2.27% in its stock price over the last five trading days. investorplace.com reported 2024-06-20 that Amid the transition to renewable energy and electric vehicles, the demand for the best materials stocks to buy is jumping. For U.S. equity investors, increases in the use of silver, copper and lithium are particularly pertinent.
Is It Worth Investing in Freeport-McMoRan Inc (NYSE: FCX) Right Now?
Freeport-McMoRan Inc (NYSE: FCX) has a price-to-earnings ratio that is above its average at 43.14x. The stock has a 36-month beta value of 1.92. Opinions on the stock are mixed, with 5 analysts rating it as a “buy,” 2 as “overweight,” 12 as “hold,” and 4 as “sell.”
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The public float for FCX is 1.43B, and at present, short sellers hold a 1.79% of that float. On June 21, 2024, the average trading volume of FCX was 15.38M shares.
FCX’s Market Performance
FCX stock saw a decrease of 2.27% in the past week, with a monthly decline of -9.65% and a quarterly a decrease of 6.30%. The volatility ratio for the week is 2.78%, and the volatility levels for the last 30 days are 2.85% for Freeport-McMoRan Inc (FCX). The simple moving average for the last 20 days is -2.53% for FCX’s stock, with a simple moving average of 17.00% for the last 200 days.
Analysts’ Opinion of FCX
BofA Securities, on the other hand, stated in their research note that they expect to see FCX reach a price target of $59. The rating they have provided for FCX stocks is “Buy” according to the report published on April 09th, 2024.
UBS gave a rating of “Neutral” to FCX, setting the target price at $41 in the report published on January 16th of the current year.
FCX Trading at -3.13% 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 -11.14% of loss for the given period.
Volatility was left at 2.85%, however, over the last 30 days, the volatility rate increased by 2.78%, as shares sank -4.31% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -3.73% lower at present.
During the last 5 trading sessions, FCX rose by +2.15%, which changed the moving average for the period of 200-days by +20.15% in comparison to the 20-day moving average, which settled at $50.24. In addition, Freeport-McMoRan Inc saw 15.67% 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 Higgins Stephen T., who sale 80,000 shares at the price of $52.03 back on May 13 ’24. After this action, Higgins Stephen T. now owns 104,377 shares of Freeport-McMoRan Inc, valued at $4,162,512 using the latest closing price.
ADKERSON RICHARD C, the Chairman of the Board & CEO of Freeport-McMoRan Inc, sale 54,771 shares at $50.78 during a trade that took place back on May 06 ’24, which means that ADKERSON RICHARD C is holding 3,652,478 shares at $2,781,118 based on the most recent closing price.
Stock Fundamentals for FCX
Current profitability levels for the company are sitting at:
- 0.26 for the present operating margin
- 0.29 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 9.94, with 3.12 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 11.38.
Currently, EBITDA for the company is 8.15 billion with net debt to EBITDA at 0.39. When we switch over and look at the enterprise to sales, we see a ratio of 3.12. The receivables turnover for the company is 10.53for 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 2.35.
Conclusion
To sum up, Freeport-McMoRan Inc (FCX) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. 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.
