The stock price of Freeport-McMoRan Inc (NYSE: FCX) has plunged by -1.35 when compared to previous closing price of 45.14, but the company has seen a 4.38% gain in its stock price over the last five trading sessions. zacks.com reported 2024-09-20 that In the closing of the recent trading day, Freeport-McMoRan (FCX) stood at $44.53, denoting a -1.35% change from the preceding trading day.
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 33.60x compared to its average ratio. FCX has 36-month beta value of 1.89. Analysts have mixed views on the stock, 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 currently, short sellers hold a 1.47% ratio of that float. The average trading volume of FCX on September 23, 2024 was 11.21M shares.
FCX’s Market Performance
FCX’s stock has seen a 4.38% increase for the week, with a 1.46% rise in the past month and a -10.02% fall in the past quarter. The volatility ratio for the week is 2.30%, and the volatility levels for the past 30 days are at 2.37% for Freeport-McMoRan Inc The simple moving average for the last 20 days is 3.99% for FCX stock, with a simple moving average of -0.26% 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 “Buy.” The predicted price for FCX in the upcoming period, according to UBS is $55 based on the research report published on September 04, 2024 of the current year 2024.
Morgan Stanley, on the other hand, stated in their research note that they expect to see FCX reach a price target of $62, previously predicting the price at $49.50. The rating they have provided for FCX stocks is “Overweight” according to the report published on June 21st, 2024.
BofA Securities gave a rating of “Buy” to FCX, setting the target price at $59 in the report published on April 09th of the current year.
FCX Trading at 1.59% 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 -19.26% of loss for the given period.
Volatility was left at 2.37%, however, over the last 30 days, the volatility rate increased by 2.30%, as shares surge +2.84% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -13.55% lower at present.
During the last 5 trading sessions, FCX rose by +4.38%, which changed the moving average for the period of 200-days by +18.40% in comparison to the 20-day moving average, which settled at $42.88. In addition, Freeport-McMoRan Inc saw 5.10% 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:
- 0.27 for the present operating margin
- 0.31 for the gross margin
The net margin for Freeport-McMoRan Inc stands at 0.08. The total capital return value is set at 0.14. Equity return is now at value 11.39, with 3.63 for asset returns.
Based on Freeport-McMoRan Inc (FCX), the company’s capital structure generated 0.35 points at debt to capital in total, while cash flow to debt ratio is standing at 0.68. The debt to equity ratio resting at 0.54. The interest coverage ratio of the stock is 14.9.
Currently, EBITDA for the company is 8.15 billion with net debt to EBITDA at 0.36. When we switch over and look at the enterprise to sales, we see a ratio of 2.75. The receivables turnover for the company is 15.72for trailing twelve months and the total asset turnover is 0.45. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.40.
Conclusion
To put it simply, Freeport-McMoRan Inc (FCX) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating 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.
