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

Freeport-McMoRan Inc (NYSE: FCX) is 11.38% higher on its value in year-to-date trading and has touched a low of $32.77 and a high of $47.19 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 $47.02 in the last trading session, with the day’s gains setting it 0.31%.

Currently trading at $47.33, the stock is 11.05% and 17.61% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 10.37 million and changing 0.66% at the moment leaves the stock 20.98% off its SMA200. FCX registered 20.91% gain for a year compared to 6-month gain of 27.28%. The firm has a 50-day simple moving average (SMA 50) of $3.19 and a 200-day simple moving average (SMA200) of $8.50.

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The stock witnessed a 25.18% loss in the last 1 month and extending the period to 3 months gives it a 10.22%, and is 4.94% 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 2.38% over the week and 2.73% over the month.

Freeport-McMoRan Inc (FCX) has around 27200 employees, a market worth around $67.89B and $22.71B in sales. Current P/E ratio is 37.28 and Fwd P/E is 22.25. Profit margin for the company is 8.07%. Distance from 52-week low is 44.45% and 0.30% from its 52-week high. The company has generated returns on investments over the last 12 months (7.13%).

Freeport-McMoRan Inc quarterly earnings per share for the current quarter are estimated at $0.34 with sales reaching $5.68B over the same period.The EPS is expected to grow by 4.32% this year, but quarterly earnings will post 12.30% year-over-year. Quarterly sales are estimated to grow 5.40% in year-over-year returns.

Freeport-McMoRan Inc (FCX) Top Institutional Holders

1,899 institutions hold shares in Freeport-McMoRan Inc (FCX), with institutional investors hold 82.71% of the company’s shares. The shares outstanding are 1.44B, and float is at 1.41B with Short Float at 1.26%. Institutions hold 82.22% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 119.06 million shares valued at $4.76 billion. The investor’s holdings represent 8.31% of the FCX Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 107.53 million shares valued at $4.3 billion to account for 7.50% of the shares outstanding. The other top investors are FMR, LLC which holds 91.32 million shares representing 6.37% and valued at over $3.65 billion, while State Street Corporation holds 4.41% of the shares totaling 63.24 million with a market value of $2.53 billion.

Freeport-McMoRan Inc (FCX) Insider Activity

The most recent transaction is an insider purchase by Lewis Sara Grootwassink,the company’sDirector. SEC filings show that Lewis Sara Grootwassink bought 4,000 shares of the company’s common stock on May 12 ’23 at a price of $34.90 per share for a total of $0.14 million. Following the purchase, the insider now owns 17800.0 shares.

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