Freeport-McMoRan Inc. (NYSE: FCX) is 45.62% higher on its value in year-to-date trading and has touched a low of $4.82 and a high of $39.10 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The FCX stock was last observed hovering at around $37.85 in the last trading session, with the day’s gains setting it 0.04% off its average median price target of $35.00 for the next 12 months. It is also 31.11% off the consensus price target high of $55.00 offered by 19 analysts, but current levels are -57.88% lower than the price target low of $24.00 for the same period.
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Currently trading at $37.89, the stock is 20.90% and 30.37% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 25.14 million and changing 0.11% at the moment leaves the stock 104.63% off its SMA200. FCX registered 253.12% gain for a year compared to 6-month gain of 160.23%. The firm has a 50-day simple moving average (SMA 50) of $31.08 and a 200-day simple moving average (SMA200) of $21.91.
The stock witnessed a 30.75% loss in the last 1 month and extending the period to 3 months gives it a 78.31%, and is 10.95% 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 5.91% over the week and 5.17% over the month.
Freeport-McMoRan Inc. (FCX) has around 24500 employees, a market worth around $50.32B and $14.20B in sales. Current P/E ratio is 95.20 and Fwd P/E is 14.31. Profit margin for the company is 4.20%. Distance from 52-week low is 686.10% and -3.09% from its 52-week high. The company has generated returns on investments over the last 12 months (7.00%).
Freeport-McMoRan Inc. (FCX) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Freeport-McMoRan Inc. (FCX) is a “Buy”. 19 analysts offering their recommendations for the stock have an average rating of 1.90, where 3 rate it as a Hold and 0 think it is a “Overweight”. 16 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 $0.44 with sales reaching $4.63B over the same period.The EPS is expected to grow by 344.60% this year, but quarterly earnings will post 40.40% year-over-year. Quarterly sales are estimated to grow 65.60% in year-over-year returns.
Freeport-McMoRan Inc. (FCX) Top Institutional Holders
1,037 institutions hold shares in Freeport-McMoRan Inc. (FCX), with 11.19M 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 1.20%. Institutions hold 73.81% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 152.72 million shares valued at $3.97 billion. The investor’s holdings represent 10.47% of the FCX Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 120.86 million shares valued at $3.14 billion to account for 8.29% of the shares outstanding. The other top investors are State Street Corporation which holds 62.89 million shares representing 4.31% and valued at over $1.64 billion, while Capital Research Global Investors holds 3.99% of the shares totaling 58.13 million with a market value of $1.51 billion.
Freeport-McMoRan Inc. (FCX) Insider Activity
A total of 38 insider transactions have happened at Freeport-McMoRan Inc. (FCX) in the last six months, with sales accounting for 18 and purchases happening 20 times. The most recent transaction is an insider sale by WHITMIRE C DONALD JR, the company’s VP Controller & Financial Rptg. SEC filings show that WHITMIRE C DONALD JR sold 2,000 shares of the company’s common stock on Feb 19 at a price of $35.10 per share for a total of $70200.0. Following the sale, the insider now owns 3785.0 shares.
Freeport-McMoRan Inc. disclosed in a document filed with the SEC on Feb 19 that WHITMIRE C DONALD JR (VP Controller & Financial Rptg) sold a total of 5,000 shares of the company’s common stock. The trade occurred on Feb 19 and was made at $35.10 per share for $0.18 million. Following the transaction, the insider now directly holds 67837.0 shares of the FCX stock.
Still, SEC filings show that on Feb 12, WHITMIRE C DONALD JR (VP Controller & Financial Rptg) disposed off 48,240 shares at an average price of $30.84 for $1.49 million. The insider now directly holds 75,492 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 81.86% up over the past 12 months. Short interest in the company’s stock has risen 0.52% from the last report on Dec 30, 2020 to stand at a total of 17.16 million short shares sold with a short interest ratio of 0.71.