The price-to-earnings ratio for Freeport-McMoRan Inc (NYSE: FCX) is above average at 38.14x, Company’s 36-month beta value is 1.90.Analysts have differing opinions on the stock, with 5 analysts rating it as a “buy,” 2 as “overweight,” 12 as “hold,” and 4 as “sell.”
The public float for FCX is 1.43B, and currently, short sellers hold a 1.31% ratio of that floaft. The average trading volume of FCX on October 07, 2024 was 12.09M shares.
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FCX) stock’s latest price update
Freeport-McMoRan Inc (NYSE: FCX) has seen a rise in its stock price by 1.57 in relation to its previous close of 49.77. However, the company has experienced a -1.54% decline in its stock price over the last five trading sessions. zacks.com reported 2024-10-04 that In the closing of the recent trading day, Freeport-McMoRan (FCX) stood at $50.55, denoting a +1.57% change from the preceding trading day.
FCX’s Market Performance
Freeport-McMoRan Inc (FCX) has seen a -1.54% fall in stock performance for the week, with a 22.10% gain in the past month and a -0.99% plunge in the past quarter. The volatility ratio for the week is 2.12%, and the volatility levels for the past 30 days are at 2.37% for FCX. The simple moving average for the past 20 days is 10.79% for FCX’s stock, with a 11.85% simple moving average for the past 200 days.
Analysts’ Opinion of FCX
Many brokerage firms have already submitted their reports for FCX stocks, with Scotiabank repeating the rating for FCX by listing it as a “Sector Perform.” The predicted price for FCX in the upcoming period, according to Scotiabank is $52 based on the research report published on September 30, 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 $55, previously predicting the price at $54. The rating they have provided for FCX stocks is “Buy” according to the report published on September 04th, 2024.
Morgan Stanley gave a rating of “Overweight” to FCX, setting the target price at $62 in the report published on June 21st of the current year.
FCX Trading at 14.70% 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 -8.35% of loss for the given period.
Volatility was left at 2.37%, however, over the last 30 days, the volatility rate increased by 2.12%, as shares surge +26.37% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +13.52% upper at present.
During the last 5 trading sessions, FCX fell by -1.54%, which changed the moving average for the period of 200-days by +22.25% in comparison to the 20-day moving average, which settled at $46.15. In addition, Freeport-McMoRan Inc saw 19.31% 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 3.1. 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
In a nutshell, Freeport-McMoRan Inc (FCX) has experienced a mixed 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.
