Freeport-McMoRan Inc. (FCX) Looks Ready for Growth Despite 9.03% Change This Year

Freeport-McMoRan Inc. (NYSE: FCX) is 9.03% higher on its value in year-to-date trading and has touched a low of $4.82 and a high of $27.76 in the current 52-week trading range. The FCX stock was last observed hovering at around $27.14 in the last trading session, with the day’s gains setting it 1.23% off its average median price target of $26.00 for the next 12 months. It is also 21.19% off the consensus price target high of $36.00 offered by 20 analysts, but current levels are -77.31% lower than the price target low of $16.00 for the same period.

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Currently trading at $28.37, the stock is 14.00% and 28.30% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 26.02 million and changing 4.53% at the moment leaves the stock 95.01% off its SMA200. FCX registered 120.78% gain for a year compared to 6-month gain of 122.86%. The firm has a 50-day simple moving average (SMA 50) of $23.95 and a 200-day simple moving average (SMA200) of $17.29.

The stock witnessed a 16.32% loss in the last 1 month and extending the period to 3 months gives it a 73.84%, and is 15.18% 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 4.84% over the week and 3.58% over the month.

Freeport-McMoRan Inc. (FCX) has around 27500 employees, a market worth around $42.03B and $13.61B in sales. Fwd P/E is 15.20. Profit margin for the company is -0.80%. Distance from 52-week low is 488.59% and 2.20% 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

Analyst recommendations provided by FactSet shows that the consensus forecast for Freeport-McMoRan Inc. (FCX) is a “Overweight”. 20 analysts offering their recommendations for the stock have an average rating of 2.20, where 6 rate it as a Hold and 0 think it is a “Overweight”. 14 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Freeport-McMoRan Inc. is expected to release its quarterly report on 04/27/2021 and quarterly earnings per share for the current quarter are estimated at $0.33 with sales reaching $4.11B over the same period.The EPS is expected to shrink by -109.80% this year, but quarterly earnings will post -4.80% year-over-year. Quarterly sales are estimated to grow 5.00% in year-over-year returns.

Freeport-McMoRan Inc. (FCX) Top Institutional Holders

1,037 institutions hold shares in Freeport-McMoRan Inc. (FCX), with 11.14M shares held by insiders accounting for 0.77% while institutional investors hold 74.38% of the company’s shares. The shares outstanding are 1.45B, and float is at 1.44B with Short Float at 1.41%. Institutions hold 73.81% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 154.75 million shares valued at $2.42 billion. The investor’s holdings represent 10.65% of the FCX Shares outstanding. As of Sep 29, 2020, the second largest holder is Blackrock Inc. with 114.98 million shares valued at $1.8 billion to account for 7.91% of the shares outstanding. The other top investors are State Street Corporation which holds 63.97 million shares representing 4.40% and valued at over $1.0 billion, while Capital Research Global Investors holds 3.87% of the shares totaling 56.2 million with a market value of $879.03 million.

Freeport-McMoRan Inc. (FCX) Insider Activity

The most recent transaction is an insider sale by ADKERSON RICHARD C, the company’s Vice Chairman, President & CEO. SEC filings show that ADKERSON RICHARD C sold 467,887 shares of the company’s common stock on Dec 04 at a price of $25.17 per share for a total of $11.78 million. Following the sale, the insider now owns 3.04 million shares.

Freeport-McMoRan Inc. disclosed in a document filed with the SEC on Dec 04 that QUIRK KATHLEEN L (EVP and CFO) sold a total of 485,000 shares of the company’s common stock. The trade occurred on Dec 04 and was made at $25.27 per share for $12.26 million. Following the transaction, the insider now directly holds 1.29 million shares of the FCX stock.

Still, SEC filings show that on Nov 11, WHITMIRE C DONALD JR (VP & Controller Financial Rptg) disposed off 2,600 shares at an average price of $19.34 for $50296.0. The insider now directly holds 4,785 shares of Freeport-McMoRan Inc. (FCX).

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

The company’s main competitors (and peers) include Rio Tinto Group (RIO) that is trading 35.60% up over the past 12 months. Short interest in the company’s stock has fallen -51.38% from the last report on Nov 12, 2020 to stand at a total of 30.79 million short shares sold with a short interest ratio of 1.06.

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