In recent trading session, Freeport-McMoRan Inc (NYSE:FCX) saw 4.05 million shares changing hands at last check today with its beta currently measuring 1.91. Company’s recent per share price level of $43.68 trading at $1.77 or 4.23% at last check today assigns it a market valuation of $62.76B. That most recent trading price of FCX’s stock is at a discount of -26.26% from its 52-week high price of $55.15 and is indicating a premium of 25.21% from its 52-week low price of $32.67. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 12.63 million shares which gives us an average trading volume of 12.69 million if we extend that period to 3-months.
For Freeport-McMoRan Inc (FCX), analysts’ consensus is at an average recommendation of Buy while assigning it a mean rating of 1.87. Splitting up the data highlights that, out of 19 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 7 suggested the stock as a Hold whereas 12 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of 0.42 in the current quarter.
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Freeport-McMoRan Inc (NYSE:FCX) trade information
Upright in the green today for gaining 4.23%, in the last five days FCX remained trading in the green while hitting it’s week-highest on Thursday, 08/15/24 when the stock touched $43.68 price level, adding 0.79% to its value on the day. Freeport-McMoRan Inc’s shares saw a change of 3.10% in year-to-date performance and have moved 6.44% in past 5-day. Freeport-McMoRan Inc (NYSE:FCX) showed a performance of -9.93% in past 30-days. Number of shares sold short was 21.51 million shares which calculate 1.92 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 47 to the stock, which implies a rise of 7.06% to its recent value today. Analysts have been projecting 24 as a low price target for the stock while placing it at a high target of 62. It follows that stock’s current price would jump 45.05% in reaching the projected high whereas dropping to the targeted low would mean a gain of 45.05% for stock’s current value.
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 17.77% of value to its shares in past 6 months, showing an annual growth rate of 9.09% while that of industry is 7.10. Apart from that, the company came raising its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 16.10% from the last financial year’s standing.
3 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 6.58B for the same. And 2 analysts are in estimates of company making revenue of 7.3B in the next quarter. Company posted 4.96B and 5.91B of sales in current and next quarters respectively a year earlier.
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 -6.56% during past 5 years. In 2024, company’s earnings growth rate is likely to be around 7.45% while estimates for its earnings growth in next 5 years are of 10.30%.
FCX Dividends
Freeport-McMoRan Inc is more likely to be releasing its next quarterly report on 2024-Oct-17 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 0.69%, the share has a forward dividend of 0.30 which implies that company’s dividend yield remained growing in trailing twelve months while having a 5 year average dividend yield of 3.73%.
Freeport-McMoRan Inc (NYSE:FCX)’s Major holders
Insiders are in possession of 0.63% of company’s total shares while institution are holding 84.71 percent of that, with stock having share float percentage of 85.25%. Investors also watch the number of corporate investors in a company very closely, which is 84.71% institutions for Freeport-McMoRan Inc that are currently holding shares of the company. VANGUARD GROUP INC is the top institutional holder at FCX for having 120.7 million shares of worth $5.68 billion. And as of 2024-03-31, it was holding 8.4052 of the company’s outstanding shares.
The second largest institutional holder is BLACKROCK INC., which was holding about 108.9 million shares on 2024-03-31. The number of shares represents firm’s hold over 7.5839 of outstanding shares, having a total worth of $5.12 billion.
On the other hand, Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund are the top two Mutual Funds which own company’s shares. As of Mar 31, 2024, the former fund manager was holding 45.05 shares of worth $1.96 billion or 3.14% of the total outstanding shares. The later fund manager was in possession of 36.14 shares on Mar 31, 2024, making its stake of worth around $1.58 billion in the company or a holder of 2.52% of company’s stock.
