At the time of writing, Freeport-McMoRan Inc [FCX] stock is trading at $43.53, down -1.63%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The FCX shares have gain 3.92% over the last week, with a monthly amount drifted -5.39%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Freeport-McMoRan Inc [NYSE: FCX] stock has seen the most recent analyst activity on June 21, 2024, when Morgan Stanley upgraded its rating to a Overweight and also boosted its price target to $62 from $49.50. Previously, BofA Securities upgraded its rating to Buy on April 09, 2024, and kept the price target unchanged to $59. Bernstein upgraded its rating to a Outperform and increased its price target to $48.50 on January 08, 2024. JP Morgan initiated its recommendation with a Neutral and recommended $42 as its price target on October 17, 2023. Bernstein started tracking with a Mkt Perform rating for this stock on June 29, 2023, and assigned it a price target of $41. In a note dated March 14, 2023, Scotiabank upgraded an Sector Outperform rating on this stock and boosted its target price from $41 to $50.
For the past year, the stock price of Freeport-McMoRan Inc fluctuated between $32.67 and $55.15. Currently, Wall Street analysts expect the stock to reach $46.7 within the next 12 months. Freeport-McMoRan Inc [NYSE: FCX] shares were valued at $43.53 at the most recent close of the market. An investor can expect a potential return of 7.28% based on the average FCX price forecast.
Analyzing the FCX fundamentals
According to Freeport-McMoRan Inc [NYSE:FCX], the company’s sales were 24.25B for trailing twelve months, which represents an 7.38% jump. Gross Profit Margin for this corporation currently stands at 0.31% with Operating Profit Margin at 0.27%, Pretax Profit Margin comes in at 0.28%, and Net Profit Margin reading is 0.08%. To continue investigating profitability, this company’s Return on Assets is posted at 0.04, Equity is 0.11 and Total Capital is 0.14. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.54.
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 43.07 points at the first support level, and at 42.60 for the second support level. However, for the 1st resistance point, the stock is sitting at 44.32, and for the 2nd resistance point, it is at 45.10.
Ratios To Look Out For
It is important to note that Freeport-McMoRan Inc [NYSE:FCX] has a current ratio of 2.40. As well, the Quick Ratio is 1.34, while the Cash Ratio is 1.01. Considering the valuation of this stock, the price to sales ratio is 2.58, the price to book ratio is 3.60 and price to earnings (TTM) ratio is 32.84.
Transactions by insiders
Recent insider trading involved Higgins Stephen T., Senior VP & CAO, that happened on May 13 ’24 when 80000.0 shares were sold. Chairman of the Board & CEO, ADKERSON RICHARD C completed a deal on May 06 ’24 to sell 54771.0 shares. Meanwhile, Senior VP & CAO Higgins Stephen T. sold 43900.0 shares on May 01 ’24.
