The stock price of Freeport-McMoRan Inc (NYSE: FCX) has dropped by -1.32 compared to previous close of 43.27. Despite this, the company has seen a fall of -7.89% in its stock price over the last five trading days. marketbeat.com reported 2024-11-16 that Investing in basic materials stocks often requires looking around corners into an opaque future. That’s been the case for shareholders of Freeport-McMoRan Inc. NYSE: FCX.
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 31.07x, Company’s 36-month beta value is 1.87.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.”
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The public float for FCX is 1.43B, and currently, short sellers hold a 1.65% ratio of that floaft. The average trading volume of FCX on November 18, 2024 was 11.33M shares.
FCX’s Market Performance
FCX’s stock has seen a -7.89% decrease for the week, with a -10.95% drop in the past month and a -3.35% fall in the past quarter. The volatility ratio for the week is 2.60%, and the volatility levels for the past 30 days are at 2.46% for Freeport-McMoRan Inc The simple moving average for the last 20 days is -7.21% for FCX’s stock, with a simple moving average of -7.45% for the last 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 -8.35% 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 -22.46% of loss for the given period.
Volatility was left at 2.46%, however, over the last 30 days, the volatility rate increased by 2.60%, as shares sank -11.37% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +6.75% upper at present.
During the last 5 trading sessions, FCX fell by -7.89%, which changed the moving average for the period of 200-days by +6.27% in comparison to the 20-day moving average, which settled at $46.02. In addition, Freeport-McMoRan Inc saw 0.94% 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 Robertson Maree E., who sale 13,000 shares at the price of $44.91 back on Nov 11 ’24. After this action, Robertson Maree E. now owns 68,198 shares of Freeport-McMoRan Inc, valued at $583,878 using the latest closing price.
Robertson Maree E., the Officer of Freeport-McMoRan Inc, proposed sale 13,000 shares at $44.91 during a trade that took place back on Nov 11 ’24, which means that Robertson Maree E. is holding shares at $583,878 based on the most recent closing price.
Stock Fundamentals for FCX
Current profitability levels for the company are sitting at:
- 0.28 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 0.15. Equity return is now at value 11.67, with 3.71 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 0.73. The debt to equity ratio resting at 0.55. The interest coverage ratio of the stock is 16.8.
Currently, EBITDA for the company is 8.59 billion with net debt to EBITDA at 0.48. When we switch over and look at the enterprise to sales, we see a ratio of 2.54. The receivables turnover for the company is 16.41for trailing twelve months and the total asset turnover is 0.46. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.33.
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’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.
