Freeport-McMoRan Inc. (NYSE: FCX) is 0.27% 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 $37.61 in the last trading session, with the day’s gains setting it 0.43% off its average median price target of $47.00 for the next 12 months. It is also 36.6% off the consensus price target high of $60.00 offered by 23 analysts, but current levels are -58.5% lower than the price target low of $24.00 for the same period.
Currently trading at $38.04, the stock is -7.84% and -10.39% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 17.19 million and changing 1.14% at the moment leaves the stock 8.44% off its SMA200. FCX registered -18.24% loss for a year compared to 6-month gain of 18.75%.
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The stock witnessed a -10.20% loss in the last 1 month and extending the period to 3 months gives it a -1.26%, and is -5.23% down 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 4.47% over the week and 3.30% over the month.
Freeport-McMoRan Inc. (FCX) has around 25600 employees, a market worth around $56.28B and $22.78B in sales. Current P/E ratio is 15.98 and Fwd P/E is 16.20. Profit margin for the company is 15.20%. Distance from 52-week low is 54.04% and -26.20% from its 52-week high. The company has generated returns on investments over the last 12 months (18.30%).
Freeport-McMoRan Inc. (FCX) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Freeport-McMoRan Inc. (FCX) is a “Overweight”. 23 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”. 11 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 shrink by -17.80% 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 1.39%.
Freeport-McMoRan Inc. (FCX) Insider Activity
A total of 21 insider transactions have happened at Freeport-McMoRan Inc. (FCX) in the last six months, with sales accounting for 5 and purchases happening 16 times. The most recent transaction is an insider sale by Mikes Ellie L.,the company’sChief Accounting Officer. SEC filings show that Mikes Ellie L. sold 11,678 shares of the company’s common stock on Mar 01 at a price of $43.17 per share for a total of $0.5 million. Following the sale, the insider now owns 32333.0 shares.
Freeport-McMoRan Inc. disclosed in a document filed with the SEC on Dec 02 that Currault Douglas N. II (Senior VP & General Counsel) sold a total of 75,000 shares of the company’s common stock. The trade occurred on Dec 02 and was made at $40.25 per share for $3.02 million. Following the transaction, the insider now directly holds 0.14 million shares of the FCX stock.
Still, SEC filings show that on Aug 29, Lance Ryan Michael (Director) acquired 31,000 shares at an average price of $31.88 for $0.99 million. The insider now directly holds 32,132 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 -41.64% down over the past 12 months.