Freeport-McMoRan Inc. (NYSE:FCX) at last check was buoying at $43.90 on Friday, January 14, with a fall of -0.98% from its closing price on previous day.
Taking a look at stock we notice that its last check on previous day was $44.33 and 5Y monthly beta was reading 2.07 with its price kept floating in the range of $44.2401 and $45.66 on the day. Company’s P/E ratio for the trailing 12 months is 16.86. Considering stock’s 52-week price range provides that FCX hit a high price of $46.02 and saw its price falling to a low level of $24.67 during that period. Over a period of past 1-month, stock came adding 16.98% in its value.
With its current market valuation of $63.00 billion, Freeport-McMoRan Inc. is set to declare its quarterly results on Jan 26, 2022. FCX Stock’s Forward Dividend of 0.30 and its yield of 0.68% are making investors’ thoughts stronger that it could climb further before the company announces its earnings for the current quarter. Analysts are in estimates of $0.91 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to $3.07 for 2021 with estimates of that growing to $3.58 in next year. These estimates are suggesting current year growth of 468.50% for EPS and 16.60% growth next year.
Analysts watching the company’s growth closely have provided estimates for its revenue growth with an average revenue estimate of $6.46 billion. They suggested that in the process company could generate revenue of as low as $6 billion which could climb up to $7.51 billion to hit a high. The average estimate is representing an increase of 43.60% in sales growth from that of posted by the company in the same quarter of last year. In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $23.02 billion in 2021, which will be 62.10% more from revenue generated by the company last year.
In last 7 days, analysts came adjusting their opinions about stock’s EPS with 1 upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review FCX stock’s current outlook then short term indicators are assigning it an average of 100% Buy, while medium term indicators are categorizing the stock at an average of 100% Buy. Long term indicators are suggesting an average of 50% Buy for it.
According to ratings assigned by 22 analysts at the scale of 1 to 5 with 1.00 representing a strong buy and 5.00 suggesting a strong sell; 5 of them are recommending Freeport-McMoRan Inc. (FCX) as a Hold, while 14 are in view that stock is a Buy. Recommendation by 0 analysts for the stock is an Underweight while number of those analysts who rated the stock as an Overweight is 1, whereas 2 of them are considering the stock as a Sell. When taken as whole, stock gets a rating of Overweight and that encourages the investors to exploit the opportunity and build their stake up in the company.
Digging deeper we become aware of the PEG ratio of the FCX stock which is currently positioned at 0.58. It further provides that stock’s current price level is 6.54% away from its 20-day simple moving average and is 11.36% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 63.69 while volatility remained at 3.47% over the past week which changes to 3.11% when measuring it over the past month. Beta is valued at 2.07, while measure of average true range or ATR is currently at 1.46. In predicting price targets of as low as $28.00 and as high as $63.00, analysts are in agreement on assigning the stock over the next 12 months average price target of $44.06. Stock’s current price level is 36.22% above from estimated low price target while it is -43.51% below the estimated high; and even if the FCX’s share succeeded to reach the median price of $44.50, then the outlook of -1.37% could come to the excitement of the investors.
In comparing Freeport-McMoRan Inc. (FCX)’s stock with other industry players reveals that stock’s latest price change of -0.98% and that of 38.81% over the past 12 months is in competing position with that of Newmont Corporation (NEM) which saw its stock price fall by -0.75% in the recent trading and went through a decrease of -3.17% in past 12-month trading. Freeport-McMoRan Inc. has a P/E ratio of 16.86 against that of Newmont Corporation’s 24.95. On the other hand, the S&P 500 Index is down -0.46% in the early deals today while the Dow Jones Industrial was dealinglower at -0.72%.
Having a second look at Freeport-McMoRan Inc. (NYSE:FCX) provides that stock’s average daily trading volume for 3 months was 17.57 million. Number of outstanding shares of the stock stood at 1.47 billion.
The percentage of outstanding shares held by the insiders is 0.20% while it is 78.10% for the institutional holders. Addition of 6.41% by stock’s current price to its year-to-date value in today’s trading is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.