During the recent session, Freeport-McMoRan Inc (NYSE:FCX)’s traded shares were 2.05 million, with the beta value of the company hitting 1.90. At the last check today, the stock’s price was $45.14, reflecting an intraday loss of -1.81% or -$0.83. The 52-week high for the FCX share is $55.07, that puts it down -22.0 from that peak though still a striking 27.74% gain since the share price plummeted to a 52-week low of $32.62. The company’s market capitalization is $63.19B, and the average intraday trading volume over the past 10 days was 9.52 million shares, and the average trade volume was 11.50 million shares over the past three months.
Freeport-McMoRan Inc (FCX) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.72. FCX has a Sell rating from 0 analyst(s) out of 19 analysts who have looked at this stock. 7 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 12 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 0.36.
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Freeport-McMoRan Inc (NYSE:FCX) trade information
Freeport-McMoRan Inc (FCX) registered a -1.81% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.81% in intraday trading to $45.14, hitting a weekly high. The stock’s 5-day price performance is -3.63%, and it has moved by -11.04% in 30 days. Based on these gigs, the overall price performance for the year is 34.47%. The short interest in Freeport-McMoRan Inc (NYSE:FCX) is 24.41 million shares and it means that shorts have 1.85 day(s) to cover.
The consensus price target of analysts on Wall Street is $47, which implies an increase of 3.96% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $24 and $58 respectively. As a result, FCX is trading at a discount of -28.49% off the target high and 46.83% off the low.
Freeport-McMoRan Inc (FCX) estimates and forecasts
Statistics show that Freeport-McMoRan Inc has underperformed its competitors in share price, compared to the industry in which it operates. Freeport-McMoRan Inc (FCX) shares have gone down -7.19% during the last six months, with a year-to-date growth rate less than the industry average at -1.30% against 12.20. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 33.30% this quarter and then jump 53.10% in the quarter after that. In the rating firms’ projections, revenue will increase 13.60% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 6.29B as predicted by 4 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to 7.04B by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 5.91B and 6.32B respectively. In this case, analysts expect current quarter sales to grow by 6.50% and then jump by 11.40% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -6.56%. While earnings are projected to return -0.02% in 2024, the next five years will return 24.99% per annum.
FCX Dividends
Freeport-McMoRan Inc is due to release its next quarterly earnings on 2025-Jan-22. 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 0.66 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 3.73%.
Freeport-McMoRan Inc (NYSE:FCX)’s Major holders
Freeport-McMoRan Inc insiders own 0.63% of total outstanding shares while institutional holders control 85.13%, with the float percentage being 85.67%. VANGUARD GROUP INC is the largest shareholder of the company, while 2034.0 institutions own stock in it. As of 2024-06-30, the company held over 121.49 million shares (or 8.4606% of all shares), a total value of $5.9 billion in shares.
The next largest institutional holding, with 108.29 million shares, is of BLACKROCK INC.’s that is approximately 7.5409% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $5.26 billion.
