In yesterday’s Wall Street session, Freeport-McMoRan Inc (NYSE:FCX) shares traded at $36.76, down -0.35% from the previous session.
As of this writing, 21 analysts cover Freeport-McMoRan Inc (NYSE:FCX). 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 $37.00, we find $45.00. Given the previous closing price of $36.89, this indicates a potential upside of 21.98 percent. FCX stock price is now 2.41% away from the 50-day moving average and -4.53% away from the 200-day moving average. The market capitalization of the company currently stands at $52.71B.
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There are 10 analysts who have given it a hold rating, whereas 9 have given it a buy rating. Brokers who have rated the stock have averaged $45.68 as their price target over the next twelve months.
With the price target of $42, JP Morgan recently initiated with Neutral 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 $0.65 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 $1.19 million. Insiders disposed of 1,268,265 shares of company stock worth roughly $46.62 million over the past 1 year. A total of 1.62% of the company’s stock is owned by insiders.
Friday morning saw Freeport-McMoRan Inc (NYSE: FCX) opened at $36.74. During the past 12 months, Freeport-McMoRan Inc has had a low of $32.83 and a high of $46.46. As of last week, the company has a debt-to-equity ratio of 0.57, a current ratio of 2.90, and a quick ratio of 1.67. The fifty day moving average price for FCX is $35.85 and a two-hundred day moving average price translates $38.59 for the stock.
The latest earnings results from Freeport-McMoRan Inc (NYSE: FCX) was released for Sep, 2023. According to the Copper Company, earnings per share came in at $0.36, beating analysts’ expectations of $0.31 by 0.05. This compares to $0.39 EPS in the same period last year. The net profit margin was 9.58% and return on equity was 13.63% for FCX. The company reported revenue of $5.82 billion for the quarter, compared to $5.0 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 16.41 percent. For the current quarter, analysts expect FCX to generate $5.26B in revenue.
