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Will Freeport-McMoRan Inc. (FCX) benefit from Wall Street bulls Calls?

Freeport-McMoRan Inc. (NYSE: FCX) is 19.70% higher on its value in year-to-date trading and has touched a low of $24.69 and a high of $51.54 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 $44.14 in the last trading session, with the day’s gains setting it 1.27% off its average median price target of $40.00 for the next 12 months. It is also 21.71% off the consensus price target high of $58.00 offered by 22 analysts, but current levels are -89.21% lower than the price target low of $24.00 for the same period.

Currently trading at $45.41, the stock is 10.98% and 16.47% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 12.36 million and changing 2.88% at the moment leaves the stock 29.95% off its SMA200. FCX registered 3.91% gain for a year compared to 6-month gain of 57.74%.

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The stock witnessed a 21.75% loss in the last 1 month and extending the period to 3 months gives it a 60.39%, and is 0.69% 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 3.73% over the week and 3.22% over the month.

Freeport-McMoRan Inc. (FCX) has around 24700 employees, a market worth around $63.09B and $23.19B in sales. Current P/E ratio is 17.20 and Fwd P/E is 23.29. Profit margin for the company is 16.70%. Distance from 52-week low is 83.89% and -11.90% from its 52-week high. The company has generated returns on investments over the last 12 months (25.90%).

Freeport-McMoRan Inc. (FCX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Freeport-McMoRan Inc. (FCX) is a “Overweight”. 22 analysts offering their recommendations for the stock have an average rating of 2.40, where 10 rate it as a Hold and 1 think it is a “Overweight”. 10 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Freeport-McMoRan Inc. is expected to release its quarterly report on 04/27/2023.The EPS is expected to grow by 611.10% this year.

Freeport-McMoRan Inc. (FCX) Top Institutional Holders

The shares outstanding are 1.43B, and float is at 1.42B with Short Float at 1.58%.

Freeport-McMoRan Inc. (FCX) Insider Activity

A total of 7 insider transactions have happened at Freeport-McMoRan Inc. (FCX) in the last six months, with sales accounting for 1 and purchases happening 6 times. The most recent transaction is an insider sale by Currault Douglas N. II,the company’sSenior VP & General Counsel. SEC filings show that Currault Douglas N. II sold 75,000 shares of the company’s common stock on Dec 02 at a price of $40.25 per share for a total of $3.02 million. Following the sale, the insider now owns 0.14 million shares.

Freeport-McMoRan Inc. disclosed in a document filed with the SEC on Aug 29 that Lance Ryan Michael (Director) bought a total of 31,000 shares of the company’s common stock. The trade occurred on Aug 29 and was made at $31.88 per share for $0.99 million. Following the transaction, the insider now directly holds 32132.0 shares of the FCX stock.

Still, SEC filings show that on Aug 03, Lewis Sara Grootwassink (Director) acquired 3,000 shares at an average price of $28.79 for $86355.0. The insider now directly holds 13,800 shares of Freeport-McMoRan Inc. (FCX).

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

The company’s main competitors (and peers) include Newmont Corporation (NEM) that is trading -17.88% down over the past 12 months.

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