Freeport-McMoRan Inc (NYSE: FCX) is 18.91% higher 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 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 $49.92 in the last trading session, with the day’s gains setting it 0.46%.
Currently trading at $50.38, the stock is 13.74% and 15.12% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 9.09 million and changing 0.92% at the moment leaves the stock 11.83% off its SMA200. FCX registered 36.02% gain for a year compared to 6-month loss of 4.44%. The firm has a 50-day simple moving average (SMA 50) of $43.8486 and a 200-day simple moving average (SMA200) of $45.1861.
The stock witnessed a 13.78% gain in the last 1 month and extending the period to 3 months gives it a 3.58%, and is 3.41% 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 2.33% over the week and 2.52% over the month.
Freeport-McMoRan Inc (FCX) has around 27200 employees, a market worth around $72.39B and $24.25B in sales. Current P/E ratio is 38.01 and Fwd P/E is 22.57. Profit margin for the company is 7.89%. Distance from 52-week low is 54.21% and -8.66% from its 52-week high. The company has generated returns on investments over the last 12 months (7.34%).
with sales reaching $6.52B over the same period.The EPS is expected to grow by 4.04% this year, but quarterly earnings will post 14.40% year-over-year. Quarterly sales are estimated to grow 31.40% in year-over-year returns.
Freeport-McMoRan Inc (FCX) Top Institutional Holders
2030.0 institutions hold shares in Freeport-McMoRan Inc (FCX), with institutional investors hold 85.65% of the company’s shares. The shares outstanding are 1.44B, and float is at 1.43B with Short Float at 1.31%. Institutions hold 85.11% 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).
