In the last trading session, 1.94 million Freeport-McMoRan Inc (NYSE:FCX) shares changed hands as the company’s beta touched 1.90. With the company’s per share price at $51.27 changed hands at $0.89 or 1.77% during last session, the market valuation stood at $73.67B. FCX’s last price was a discount, traded about -7.57% off its 52-week high of $55.15. The share price had its 52-week low at $32.67, which suggests the last value was 36.28% up since then. When we look at Freeport-McMoRan Inc’s average trading volume, we note the 10-day average is 17.15 million shares, with the 3-month average coming to 12.03 million.
Analysts gave the Freeport-McMoRan Inc (FCX) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.79. If we narrow down to specifics, the data shows that 0 out of 19 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 7 recommended FCX as a Hold, 12 felt it is a Buy and 0 rated the stock as Underweight. Freeport-McMoRan Inc’s EPS for the current quarter is expected to be 0.38.
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Freeport-McMoRan Inc (NYSE:FCX) trade information
Instantly FCX was in green as seen at the end of in last trading. With action 6.13%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 21.02%, with the 5-day performance at 6.13% in the green. However, in the 30-day time frame, Freeport-McMoRan Inc (NYSE:FCX) is 23.97% up. Looking at the short shares, we see there were 18.66 million shares sold at short interest cover period of 1.86 days.
The consensus price target for the stock as assigned by Wall Street analysts is 47, meaning bulls need a downside of -9.09% from its current market value. According to analyst projections, FCX’s forecast low is 24 with 58 as the target high. To hit the forecast high, the stock’s price needs a -13.13% plunge from its current level, while the stock would need to tank 53.19% for it to hit the projected low.
Freeport-McMoRan Inc (FCX) estimates and forecasts
Data shows that the Freeport-McMoRan Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 3.66% over the past 6 months, a 4.55% in annual growth rate that is considerably lower than the industry average of 16.30%. Year-over-year growth is forecast to reach 14.40% up from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of 6.52B. 4 analysts are of the opinion that Freeport-McMoRan Inc’s revenue for the current quarter will be 7.02B. The company’s revenue for the corresponding quarters a year ago was 4.96B and 5.91B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 31.40%. The estimates for the next quarter sales put growth at 18.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -6.56%. The 2024 estimates are for Freeport-McMoRan Inc earnings to increase by 4.14%, but the outlook for the next 5-year period is at 10.30% per year.
FCX Dividends
Freeport-McMoRan Inc is expected to release its next quarterly earnings report on 2024-Oct-17. The 0.58% annual yield figure for the share gives it an annual dividend of 0.30. It is important to note, however, that the 0.58% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 3.73 per year.
Freeport-McMoRan Inc (NYSE:FCX)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.63% of Freeport-McMoRan Inc shares while 85.12% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 85.66%. There are 85.12% institutions holding the Freeport-McMoRan Inc stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 8.4606% of the shares, roughly 121.49 million FCX shares worth $5.9 billion.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 7.5409% or 108.29 million shares worth $5.26 billion as of 2024-06-30.
