In the latest trading session, 2.42 million Freeport-McMoRan Inc (NYSE:FCX) shares changed hands as the company’s beta touched 1.88. With the company’s most recent per share price at $35.99 changed hands at -$0.49 or -1.34% at last look, the market valuation stands at $51.72B. FCX’s current price is a discount, trading about -52.71% off its 52-week high of $54.96. The share price had its 52-week low at $34.89, which suggests the last value was 3.06% up since then. When we look at Freeport-McMoRan Inc’s average trading volume, we note the 10-day average is 17.11 million shares, with the 3-month average coming to 12.62 million.
Analysts gave the Freeport-McMoRan Inc (FCX) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.21. 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 0.24.
Freeport-McMoRan Inc (NYSE:FCX) trade information
Instantly FCX was in red as seen in intraday trades today. With action -0.80%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -5.31%, with the 5-day performance at -0.80% in the red. However, in the 30-day time frame, Freeport-McMoRan Inc (NYSE:FCX) is -4.38% down. Looking at the short shares, we see there were 26.09 million shares sold at short interest cover period of 2.26 days.
The consensus price target for the stock as assigned by Wall Street analysts is 55, meaning bulls need an upside of 34.56% from its recent market value. According to analyst projections, FCX’s forecast low is 53 with 58 as the target high. To hit the forecast high, the stock’s price needs a -61.16% plunge from its current level, while the stock would need to soar -47.26% 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 better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -11.64% over the past 6 months, a 15.54% in annual growth rate that is considerably higher than the industry average of 13.00%. Year-over-year growth is forecast to reach 2.45% 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 5.33B. 4 analysts are of the opinion that Freeport-McMoRan Inc’s revenue for the current quarter will be 6.61B. The company’s revenue for the corresponding quarters a year ago was 6.32B and 6.62B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -15.71%. The estimates for the next quarter sales put growth at -0.24%.
The 2025 estimates are for Freeport-McMoRan Inc earnings to increase by 13.36%, but the outlook for the next 5-year period is at 21.23% per year.
FCX Dividends
Freeport-McMoRan Inc is expected to release its next quarterly earnings report in March. The 0.83% annual yield figure for the share gives it an annual dividend of 0.30. It is important to note, however, that the 0.83% 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 85.07% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 85.61%. There are 85.07% 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.
Among Mutual Funds, the top two as of Sep 30, 2024 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 45.51 shares estimated at $1.64 billion under it, the former controlled 3.17% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.62% of the shares, roughly 37.63 shares worth around $1.36 billion.
