In recent trading session, Freeport-McMoRan Inc. (NYSE:FCX) saw 5,268,971 shares changing hands with its beta currently measuring 2.31. Company’s recent per share price level of $17.11 trading at -$0.37 or -2.09% at recent trade assigns it a market valuation of $24.99 Billion. That current trading price of FCX’s stock is at a discount of -9.18% from its 52-week high price of $18.68 and is indicating a premium of 71.83% from its 52-week low price of $4.82. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 19.94 Million shares which gives us an average trading volume of 19.06 Million if we extend that period to 3-months.
Freeport-McMoRan Inc. (NYSE:FCX) trade information
In the face of being in the red today for losing -2.09%, in the last five days FCX remained trading in the green while hitting it’s week-highest on Monday, Oct 26 when the stock touched $18.04- price level, adding 5.1% to its value on the day. Freeport-McMoRan Inc.’s shares saw a change of 30.49% in year-to-date performance and have moved -6.75% in past 5-day. Freeport-McMoRan Inc. (NYSE:FCX) showed a performance of 9.46% in past 30-days. Number of shares sold short was 31.6 Million shares which calculate 1.66 days to cover the short interests.
Freeport-McMoRan Inc. (FCX) estimates and forecasts
Statistics highlight that Freeport-McMoRan Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added +106.62% of value to its shares in past 6 months, showing an annual growth rate of 2450% while that of industry is 11.7. Apart from that, the company came raising its revenue forecast for fiscal year 2020. The company is estimating its revenue growth to increase by 1350% in the current quarter and calculating 312.5% increase in the next quarter. This year revenue growth is estimated to drop -5.6% from the last financial year’s standing.
5 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $4.01 Billion for the same. And 2 analysts are in estimates of company making revenue of $4.35 Billion in the next quarter that will end in March 01, 2021. Company posted $3.91 Billion and $2.8 Billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 2.6% while estimating it to be 55.5% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 34.3% during past 5 years. In 2020, company’s earnings growth rate is likely to be around -109.8% while estimates for its earnings growth in next 5 years are of 0%
Freeport-McMoRan Inc. is more likely to be releasing its next quarterly report between January 21 and January 25, 2021, and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt. With an annual yield of 3.48%, the share has a forward dividend of 0.2 which implies that company’s dividend yield remained growing in trailing twelve months.
Freeport-McMoRan Inc. (NYSE:FCX)’s Major holders
Insiders are in possession of 0.7% of company’s total shares while institution are holding 75.17% percent of that, with stock having share float percentage of 75.7%. Investors also watch the number of corporate investors in a company very closely, which is 982 institutions for Freeport-McMoRan Inc. that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at FCX for having 160.4 Million shares of worth $1.86 Billion. And as of June 29, 2020, it was holding 11.05% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 113.36 Million shares on June 29, 2020. The number of shares represents firm’s hold over 7.81% of outstanding shares, having a total worth of $1.31 Billion.
On the other hand, Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund are the top two Mutual Funds which own company’s shares. As of June 29, 2020, the former fund manager was holding 41486425 shares of worth $480Million or 2.86% of the total outstanding shares. The later fund manager was in possession of 36.03 Million shares on June 29, 2020, making its stake of worth around $416.89 Million in the company or a holder of 2.48% of company’s stock.