The stock of Freeport-McMoRan Inc (NYSE:FCX) last traded at $37.15, down -0.21% from the previous session.
Data from the available sources indicates that Freeport-McMoRan Inc (NYSE:FCX) is covered by 22 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $57.00 and a low of $29.00, we find $46.00. Given the previous closing price of $37.23, this indicates a potential upside of 23.56 percent. FCX stock price is now -8.95% away from the 50-day moving average and -6.77% away from the 200-day moving average. The market capitalization of the company currently stands at $53.26B.
In total, 9 analysts have assigned it a hold rating, and 10 have given it a buy rating. Brokers who have rated the stock have averaged $46.94 as their price target over the next twelve months.
With the price target of $41, Bernstein recently initiated with Mkt Perform rating for Freeport-McMoRan Inc (NYSE: FCX).
In other news, Lewis Sara Grootwassink, Director bought 4,000 shares of the company’s stock on May 12. The stock was bought for $139,597 at an average price of $34.90. Upon completion of the transaction, the Director now directly owns 17,800 shares in the company, valued at $0.66 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 01, Chief Accounting Officer Mikes Ellie L. sold 11,678 shares of the business’s stock. A total of $504,117 was realized by selling the stock at an average price of $43.17. This leaves the insider owning 32,333 shares of the company worth $1.2 million. Insiders disposed of 1,259,742 shares of company stock worth roughly $46.8 million over the past 1 year. A total of 1.45% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FCX stock. A new stake in Freeport-McMoRan Inc shares was purchased by CEREDEX VALUE ADVISORS LLC during the first quarter worth $62,562,000. TWINBEECH CAPITAL LP invested $54,714,000 in shares of FCX during the first quarter. In the first quarter, MN SERVICES VERMOGENSBEHEER B.V. acquired a new stake in Freeport-McMoRan Inc valued at approximately $25,318,000. RAILWAY PENSION INVESTMENTS LTD acquired a new stake in FCX for approximately $20,667,000. VOLORIDGE INVESTMENT MANAGEMENT, LLC purchased a new stake in FCX valued at around $19,826,000 in the second quarter. In total, there are 1,772 active investors with 78.25% ownership of the company’s stock.
With an opening price of $37.86 on Friday morning, Freeport-McMoRan Inc (NYSE: FCX) set off the trading day. During the past 12 months, Freeport-McMoRan Inc has had a low of $25.83 and a high of $46.56. As of last week, the company has a debt-to-equity ratio of 0.59, a current ratio of 2.94, and a quick ratio of 1.72. According to the stock market information, the enterprise value for the company is $56.19B, which is based on a 25.60 price-to-earnings ratio, a 1.60 price-to-earnings-growth ratio, and a beta of 2.07. The fifty day moving average price for FCX is $40.80 and a two-hundred day moving average price translates $39.94 for the stock.
The latest earnings results from Freeport-McMoRan Inc (NYSE: FCX) was released for Jun, 2023. According to the Copper Company, earnings per share came in at $0.35, beating analysts’ expectations of $0.34 by 0.01. This compares to $0.71 EPS in the same period last year. The net profit margin was 9.57% and return on equity was 13.45% for FCX. The company reported revenue of $5.74 billion for the quarter, compared to $5.42 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.93 percent. For the current quarter, analysts expect FCX to generate $5.52B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/01/2023. Investors who held shares on 10/13/2023 were paid a $0.15 dividend. On an annualized basis, this represents a $0.59 dividend and a 1.58% percent yield. There was an ex-dividend date of 10/12/2023 for this dividend. In terms of dividend payout ratio, FCX is presently at 12.58%.
Freeport-McMoRan Inc(FCX) Company Profile
Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. The company’s assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile. It also operates a portfolio of oil and gas properties primarily located in offshore California and the Gulf of Mexico. The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. Freeport-McMoRan Inc. was incorporated in 1987 and is headquartered in Phoenix, Arizona.
