Why Shares of Freeport-McMoRan Inc. (FCX) Are Going Crazy

Freeport-McMoRan Inc. (NYSE: FCX) is 19.28% higher on its value in year-to-date trading and has touched a low of $4.82 and a high of $15.34 in the current 52-week trading range. The FCX stock was last observed hovering at around $14.90 in the last trading session, with the day’s gains setting it 0.75%.

Currently trading at $15.65, the stock is 10.69% and 19.48% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 16.41 million and changing 5.03% at the moment leaves the stock 42.84% off its SMA200. FCX registered 71.60% gain for a year compared to 6-month gain of 49.05%. The firm has a 50-day simple moving average (SMA 50) of $13.87 and a 200-day simple moving average (SMA200) of $10.46.

The stock witnessed a 20.94% loss in the last 1 month and extending the period to 3 months gives it a 67.56%, and is 8.98% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.11% over the week and 3.28% over the month.

Freeport-McMoRan Inc. (FCX) has around 27500 employees, a market worth around $21.64B and $12.92B in sales. Fwd P/E is 12.32. Profit margin for the company is -5.00%. Distance from 52-week low is 224.69% and 2.02% from its 52-week high. The company has generated returns on investments over the last 12 months (2.90%).

Freeport-McMoRan Inc. (FCX) Analyst Forecasts

Freeport-McMoRan Inc. quarterly earnings per share for the current quarter are estimated at $0.13 with sales reaching $3.48B over the same period.The EPS is expected to shrink by -109.80% this year, but quarterly earnings will post -9.30% year-over-year. Quarterly sales are estimated to grow 5.30% in year-over-year returns.

Freeport-McMoRan Inc. (FCX) Top Institutional Holders

982 institutions hold shares in Freeport-McMoRan Inc. (FCX), with 10.24M shares held by insiders accounting for 0.70% while institutional investors hold 75.70% of the company’s shares. The shares outstanding are 1.45B, and float is at 1.44B with Short Float at 2.41%. Institutions hold 75.17% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 160.4 million shares valued at $1.86 billion. The investor’s holdings represent 11.05% of the FCX Shares outstanding. As of Jun 29, 2020, the second largest holder is Blackrock Inc. with 113.36 million shares valued at $1.31 billion to account for 7.81% of the shares outstanding. The other top investors are State Street Corporation which holds 66.32 million shares representing 4.57% and valued at over $767.37 million, while Capital Research Global Investors holds 3.97% of the shares totaling 57.71 million with a market value of $667.67 million.

Freeport-McMoRan Inc. (FCX) Insider Activity

A total of 13 insider transactions have happened at Freeport-McMoRan Inc. (FCX) in the last six months, with sales accounting for 0 and purchases happening 13 times. The most recent transaction is an insider purchase by QUIRK KATHLEEN L, the company’s EVP and CFO. SEC filings show that QUIRK KATHLEEN L bought 85,000 shares of the company’s common stock on Mar 05 at a price of $10.03 per share for a total of $0.85 million. Following the purchase, the insider now owns 1.14 million shares.

Freeport-McMoRan Inc. disclosed in a document filed with the SEC on Mar 05 that ADKERSON RICHARD C (Vice Chairman, President & CEO) bought a total of 250,000 shares of the company’s common stock. The trade occurred on Mar 05 and was made at $10.02 per share for $2.51 million. Following the transaction, the insider now directly holds 2.74 million shares of the FCX stock.

Still, SEC filings show that on Jan 28, STEPHENS JOHN JOSEPH (Director) acquired 45,000 shares at an average price of $11.19 for $0.5 million. The insider now directly holds 45,000 shares of Freeport-McMoRan Inc. (FCX).

Freeport-McMoRan Inc. (FCX): Who are the competitors?

The company’s main competitors (and peers) include Rio Tinto Group (RIO) that is trading 25.82% up over the past 12 months. Short interest in the company’s stock has fallen -26.41% from the last report on Jul 14, 2020 to stand at a total of 43.99 million short shares sold with a short interest ratio of 1.81.