Freeport-McMoRan Inc. (NYSE:FCX) has a beta value of 2.16 and has seen 12,713,300 shares traded in the recent trading session. The company, currently valued at $56.96 Billion, closed the recent trade at $39.02 per share which meant it gained $1.31 on the day or 3.47% during that session. The FCX stock price is -0.21% off its 52-week high price of $39.1 and 81.29% above the 52-week low of $7.3. If we look at the company’s 10-day average daily trading volume, we find that it stood at 17.33 Million shares traded. The 3-month trading volume is 24.86 Million shares.
The consensus among analysts is that Freeport-McMoRan Inc. (FCX) is an Overweight stock at the moment, with a recommendation rating of 2. None of the analysts rate the stock as a Sell, while 1 rate it as Overweight. 5 out of 20 have rated it as a Hold, with 14 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.66.
Freeport-McMoRan Inc. (NYSE:FCX) trade information
Wall Street analysts have a consensus price target for the stock at $39.05, which means that the shares’ value could jump 0.08% from the levels at last check today. The projected low price target is $17 while the price target rests at a high of $55. In that case, then, we find that the latest price level in today’s session is +40.95% off the targeted high while a plunge would see the stock lose -56.43% from the levels at last check today.
Freeport-McMoRan Inc. (FCX) estimates and forecasts
Figures show that Freeport-McMoRan Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained +123.53% over the past 6 months, with this year growth rate of 400%, compared to 4.4% for the industry. Other than that, the company has, however, increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 2100% and 144.8% for the next quarter. Revenue growth from the last financial year stood is estimated to be +52.8%.
3 analysts offering their estimates for the company have set an average revenue estimate of $5.63 Billion for the current quarter. 3 have an estimated revenue figure of $6.02 Billion for the next quarter concluding in September 01, 2021. Year-ago sales stood $3.13 Billion for this quarter, and analysts expect sales will grow by 79.5% for the current quarter.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +15.3% over the past 5 years. Earnings growth for 2021 is a modest +344.6% while over the next 5 years, the company’s earnings are expected to increase by 36.8%.
Freeport-McMoRan Inc. is expected to release its next earnings report between July 21 and July 26 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.3 at a share yield of 0.8%.
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Freeport-McMoRan Inc. (NYSE:FCX)’s Major holders
Insiders own 0.58% of the company shares, while shares held by institutions stand at 76.8% with a share float percentage of 77.26%. Investors are also buoyed by the number of investors in a company, with Freeport-McMoRan Inc. having a total of 1288 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 152.72 Million shares worth more than $3.97 Billion. As of December 30, 2020, Vanguard Group, Inc. (The) held 10.43% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 120.86 Million shares as of December 30, 2020. The firm’s total holdings are worth over $3.14 Billion and represent 8.25% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund. As of December 30, 2020, the former fund manager holds about 2.8% shares in the company for having 40967973 shares of worth $1.07 Billion while later fund manager owns 32.84 Million shares of worth $854.37 Million as of December 30, 2020, which makes it owner of about 2.24% of company’s outstanding stock.