A share price of Freeport-McMoRan Inc [FCX] is currently trading at $49.47, up 0.59%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The FCX shares have gain 5.21% over the last week, with a monthly amount glided 29.71%, and seem to be holding up well over a long-time horizon.
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On 27, March 2024, Freeport-McMoRan Declares Quarterly Cash Dividends on Common Stock. In a post published today on Yahoo Finance, Freeport-McMoRan Inc. (NYSE: FCX) announced today that its Board of Directors declared cash dividends of $0.15 per share on FCX’s common stock payable on May 1, 2024, to shareholders of record as of April 15, 2024. The declaration includes a base dividend of $0.075 per share and variable dividend of $0.075 per share in accordance with FCX’s performance-based payout framework. The payment of dividends is at the discretion of the Board, which will consider FCX’s financial results, cash requirements, global economic conditions and other factors it deems relevant.
From an analyst’s perspective:
Previously, Bernstein upgraded its rating to Outperform on January 08, 2024, and elevated its price target to $48.50. On October 17, 2023, JP Morgan initiated with a Neutral rating and assigned a price target of $42 on the stock. Bernstein started tracking the stock assigning a Mkt Perform rating and suggested a price target of $41 on June 29, 2023. Scotiabank upgraded its rating to a Sector Outperform and raised its price target to $50 on March 14, 2023. Scotiabank downgraded its rating to Sector Perform for this stock on November 11, 2022, but kept the price target unchanged to $34. In a note dated October 06, 2022, Exane BNP Paribas downgraded an Neutral rating on this stock but restated the target price of $29.
Freeport-McMoRan Inc experienced fluctuations in its stock price throughout the past year between $32.77 and $50.24. Currently, Wall Street analysts expect the stock to reach $42.08 within the next 12 months. Freeport-McMoRan Inc [NYSE: FCX] shares were valued at $49.47 at the most recent close of the market. An investor can expect a potential drop of -14.94% based on the average FCX price forecast.
Analyzing the FCX fundamentals
Trailing Twelve Months sales for Freeport-McMoRan Inc [NYSE:FCX] were 22.71B which represents 6.50% growth. Gross Profit Margin for this corporation currently stands at 0.31% with Operating Profit Margin at 0.27%, Pretax Profit Margin comes in at 0.26%, and Net Profit Margin reading is 0.11%. To continue investigating profitability, this company’s Return on Assets is posted at 0.05, Equity is 0.16 and Total Capital is 0.13. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.56.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 48.89 points at the first support level, and at 48.32 for the second support level. However, for the 1st resistance point, the stock is sitting at 49.81, and for the 2nd resistance point, it is at 50.16.
Freeport-McMoRan Inc [FCX] reported earnings per share of $0.27 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.22/share, meaning a difference of $0.05 and a surprise factor of 22.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.39 per share as compared to estimates of $0.34 per share, a difference of $0.05 representing a surprise of 14.70%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Freeport-McMoRan Inc [NYSE:FCX] is 2.42. Further, the Quick Ratio stands at 1.38, while the Cash Ratio is 0.97. Considering the valuation of this stock, the price to sales ratio is 3.13, the price to book ratio is 4.25 and price to earnings (TTM) ratio is 38.97.
Transactions by insiders
Recent insider trading involved Lewis Sara Grootwassink, Director, that happened on May 12 ’23 when 4000.0 shares were purchased.
