The Time Is Right To Purchase Freeport-McMoRan Inc. (NYSE: FCX) – Marketing Sentinel
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The Time Is Right To Purchase Freeport-McMoRan Inc. (NYSE: FCX)

During the recent session, Freeport-McMoRan Inc. (NYSE:FCX)’s traded shares were 14.59 million, with the beta value of the company hitting 1.93. At the last check today, the stock’s price was $30.13, reflecting an intraday loss of -3.80% or -$1.19. The 52-week high for the FCX share is $51.91, that puts it down -72.29 from that peak though still a striking 0.7% gain since the share price plummeted to a 52-week low of $29.92. The company’s market capitalization is $46.80B, and the average trade volume was 17.73 million shares over the past three months.

Freeport-McMoRan Inc. (FCX) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.20. FCX has a Sell rating from 1 analyst(s) out of 24 analysts who have looked at this stock. 8 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 14 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.98.

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Freeport-McMoRan Inc. (NYSE:FCX) trade information

Freeport-McMoRan Inc. (FCX) registered a -3.80% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -3.80% in intraday trading to $30.13 this Wednesday, 06/22/22, hitting a weekly high. The stock’s 5-day price performance is -14.94%, and it has moved by -13.74% in 30 days. Based on these gigs, the overall price performance for the year is -13.89%.

The consensus price target of analysts on Wall Street is $49.16, which implies an increase of 38.71% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $29.00 and $65.00 respectively. As a result, FCX is trading at a discount of -115.73% off the target high and 3.75% off the low.

Freeport-McMoRan Inc. (FCX) estimates and forecasts

Statistics show that Freeport-McMoRan Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Freeport-McMoRan Inc. (FCX) shares have gone down -16.03% during the last six months, with a year-to-date growth rate more than the industry average at 25.24% against 1.90. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 27.30% this quarter and then jump 9.00% in the quarter after that. In the rating firms’ projections, revenue will increase 18.80% compared to the previous financial year.

Revenue for the current quarter is expected to be $6.8 billion as predicted by 8 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $7.11 billion by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 24.40%. While earnings are projected to return 611.10% in 2022.

FCX Dividends

Freeport-McMoRan Inc. is due to release its next quarterly earnings between April 20 and April 25. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Freeport-McMoRan Inc. is 0.30, with the dividend yield indicating at 0.96 percent, continuing the trend of increasing dividends in recent years.

Freeport-McMoRan Inc. (NYSE:FCX)’s Major holders

Freeport-McMoRan Inc. insiders own 0.52% of total outstanding shares while institutional holders control 81.43%, with the float percentage being 81.85%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 1,685 institutions own stock in it. As of Dec 30, 2021, the company held over 114.74 million shares (or 7.92% of all shares), a total value of $4.79 billion in shares.

The next largest institutional holding, with 107.0 million shares, is of Blackrock Inc.’s that is approximately 7.38% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $5.32 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Freeport-McMoRan Inc. (FCX) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Dec 30, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 41.73 million shares. This amounts to just over 2.88 percent of the company’s overall shares, with a $1.74 billion market value. The same data shows that the other fund manager holds slightly less at 31.1 million, or about 2.15% of the stock, which is worth about $1.3 billion.

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