Freeport-McMoRan Inc. (FCX), a Basic Materials Copper corporation, saw its stock exchange 12.02 common shares, a lower demand against to its 10-day trading volume of 22.97M.
Freeport-McMoRan Inc. (FCX) stock is quoted at $12.02, down -0.22 cents or -1.80% on the day. Based on this we can see some traders are either waiting on the sidelines to get involved or perhaps some are taking losses.
Total Revenue for Freeport-McMoRan Inc. (FCX) is $14.4B. Gross Profit is $2.72B and the EBITDA is $2.31B.
Freeport-McMoRan Inc. (FCX) Key Technicals:
The average 10-day trading volume of Freeport-McMoRan Inc. (FCX) is 22.97M compared to 23.5M over the last 3 months which indicates a lower demand in trading activity. At the time of writing, Freeport-McMoRan Inc. (FCX) has a 50-day moving average of $12.36 and a 200-day moving average of $10.92. These moving averages are popular technical indicators that investors use to analyze price trends of Freeport-McMoRan Inc. (FCX).
Approximately 3.93% of the shares of the company are sold short from traders betting the stock might trade lower. The beta value of Freeport-McMoRan Inc. (FCX) stock is 2.32, indicating its 3.03% to 3.43% more volatile than the overall marketplace.
Technically, FCX’s short term support levels are around $14.39, $14.39 and $14.39 on the downside. FCXs short term resistance levels are $14.39, $14.39 and $14.39 on the upside.
Based on technical analysis, FCX has short term rating of Neutral (0.04), Intermediate rating of Bearish (-0.29) and the long-term rating of Neutral (-0.11) giving it an overall rating of Neutral (-0.12).
FCX is trading 42.59% off its 52 week low at $8.43 and -18.09% off its 52 week high of $14.68. Performance wise, FCX stock has recently shown investors -1.23% a lower demand in a week, -6.46% a lower demand in a month and 11.19% a higher demand in the past quarter.
More importantly, Freeport-McMoRan Inc. (FCX) has shown a return of -8.38% since the 1st of this year.
Freeport-McMoRan Inc. (FCX) Key Data:
Freeport-McMoRan Inc. (FCX) is a large-cap company with a market cap value of $17.44B. FCX insiders hold roughly 0.66% of the shares.
On Nov-13-19 BofA/Merrill Upgrade FCX as Neutral → Buy at $14. On Dec-17-19 BMO Capital Markets Upgrade FCX as Market Perform → Outperform at $12 → $17 and on Jan-14-20 Credit Suisse Downgrade FCX as Neutral → Underperform at $11 → $10.
There are currently 1.44B shares in the float and 1.49B shares outstanding. There are 3.93% shares short in FCXs float.
The industry rank for Freeport-McMoRan Inc. (FCX) is 214 out of 255 ranking it at the Bottom 16% .
Freeport-McMoRan Inc. (FCX) Fundamental Evaluation:
FCX last 2 years revenues have decreased from $18,628,000 to $14,402,000 showing a downtrend.
Wall Street expects Freeport-McMoRan Inc. (FCX) to report an EPS next Qtr loss of -0.03 and a profit of 224.93% next year.
The growth rate on FCX this year is 1,550.00 compared to an industry -1.40. FCXs next year’s growth rate is 245.45 compared to an industry -2.20.
The book value per share (mrq) is 6.50 and cash per share (mrq) is 1.50. Giving them a price/book (mrq) of 1.00 compared to an industry of 0.98 and FCXs price/cash flow (mrfy) is 12.04 compared to an industry of 7.60.
FCX fundamental ratios shows an EPS growth vs. previous year 0.33 and EPS growth vs. previous quarter -0.03.
About Freeport-McMoRan Inc. (FCX):
Based in Phoenix, AZ, Freeport-McMoRan Inc., formerly Freeport-McMoRan Copper & Gold Inc., is engaged in mineral exploration and development; mining and milling of copper, gold, molybdenum and silver; as well as the smelting and refining of copper concentrates. The company conducts its operations primarily through its principal operating subsidiaries, PT Freeport Indonesia (PT-FI), Freeport-McMoRan Corporation (formerly Phelps Dodge) and Atlantic Copper. PT Freeport Indonesia’s principal asset is Papua, Indonesia-based Grasberg mine, which contains the world’s largest copper and gold reserves.In December 2018, the company completed the transaction with the Indonesian government regarding PT Freeport Indonesia’s (PT-FI) long-term mining rights and ownership. Freeport has a 48.76% ownership interest in PT-FI and it manages the mining operations. Freeport’s economic interest in PT-FI is around 81% through 2022.Freeport conducts its mining operations through four primary divisions – North America copper mines, South America mining, Indonesia mining and Molybdenum. North America, South America and Indonesia accounted for roughly 45%, 36% and 19% of its recoverable copper production, respectively, in 2019.In North America, Freeport operates seven open-pit copper mines – Morenci, Bagdad, Sierrita, Miami and Safford located in Arizona, and Chino and Tyrone in New Mexico. The company also has molybdenum mines, Henderson (underground) and Climax (open-pit), in Colorado. All of these operations are wholly owned by Freeport, except Morenci, which is under a joint venture with Freeport holding a 72% stake. In South America, the company has two operating copper mines – Cerro Verde (53.56% stake) in Peru and El Abra (51%) in Chile.In December 2019, Freeport completed the divestment of a portion of its cobalt refinery in Kokkola, Finland along with associated cobalt cathode precursor business to Umicore. Total cash consideration for the transaction amounted to roughly $200 million, which includes working capital of $50 million.In November 2016, Freeport completed the sale of its 70% interest in TF Holdings Limited (TFHL) to China Molybdenum Co., Ltd. for $2.65 billion in cash.