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.
Gold bugs are shouting from the rooftops in excitement, but that doesn’t mean you rush out and just buy any gold stock…That’s why we laid out The 2021 Ultimate Gold Portfolio – to dissect the treasure from the trash.
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).
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.