Freeport-McMoRan Inc (NYSE: FCX) is -2.28% lower on its value in year-to-date trading and has touched a low of $32.67 and a high of $55.15 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The FCX stock was last observed hovering at around $41.61 in the last trading session, with the day’s loss setting it -0.21%.
Currently trading at $41.40, the stock is -3.61% and -9.09% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.36 million and changing -0.50% at the moment leaves the stock -6.66% off its SMA200. FCX registered 2.16% gain for a year compared to 6-month gain of 8.87%.
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The stock witnessed a 0.88% loss in the last 1 month and extending the period to 3 months gives it a -17.88%, and is -5.63% 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 2.50% over the week and 2.38% over the month.
Freeport-McMoRan Inc (FCX) has around 27200 employees, a market worth around $59.49B and $24.25B in sales. Current P/E ratio is 31.24 and Fwd P/E is 18.19. Profit margin for the company is 7.89%. Distance from 52-week low is 26.73% and -24.94% from its 52-week high. The company has generated returns on investments over the last 12 months (7.34%).
The EPS is expected to grow by 7.71% this year
2053.0 institutions hold shares in Freeport-McMoRan Inc (FCX), with institutional investors hold 85.62% of the company’s shares. The shares outstanding are 1.44B, and float is at 1.43B with Short Float at 1.46%. Institutions hold 85.08% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 121.49 million shares valued at $5.9 billion. The investor’s holdings represent 8.4606 of the FCX Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 108.29 million shares valued at $5.26 billion to account for 7.5409 of the shares outstanding. The other top investors are CAPITAL RESEARCH GLOBAL INVESTORS which holds 76.34 million shares representing 5.3164 and valued at over $3.71 billion, while FMR LLC holds 4.5111 of the shares totaling 64.78 million with a market value of $3.15 billion.
Freeport-McMoRan Inc (FCX) Insider Activity
The most recent transaction is an insider sale by Higgins Stephen T., the company’s Senior VP & CAO. SEC filings show that Higgins Stephen T. sold 80,000 shares of the company’s common stock on May 13 ’24 at a price of $52.03 per share for a total of $4.16 million. Following the sale, the insider now owns 0.1 million shares.
Freeport-McMoRan Inc disclosed in a document filed with the SEC on May 06 ’24 that ADKERSON RICHARD C (Chairman of the Board & CEO) sold a total of 54,771 shares of the company’s common stock. The trade occurred on May 06 ’24 and was made at $50.78 per share for $2.78 million. Following the transaction, the insider now directly holds 3.65 million shares of the FCX stock.
Still, SEC filings show that on May 01 ’24, Higgins Stephen T. (Senior VP & CAO) disposed off 43,900 shares at an average price of $51.08 for $2.24 million. The insider now directly holds 104,377 shares of Freeport-McMoRan Inc (FCX).
