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Wednesday, February 8, 2023

Freeport-McMoRan Inc. (NYSE: FCX) May Be Attracting Institutional Investments

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. After-hours trades for Freeport-McMoRan Inc. (FCX) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.05, or -0.12%, to $42.78. The Freeport-McMoRan Inc. has recorded 158,176 volume in the after hours trading session. Recently, Yahoo Finance discussed the stock, revealing that Freeport-McMoRan Declares Quarterly Cash Dividends on Common Stock.

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Stocks Info

Freeport-McMoRan Inc. is listed on the NYSE as a member of the Basic Materials sector and is a part of the Copper industry. At the end of the last regular session, the stock closed at $42.83 and fluctuated between $44.17 as its day high and $42.83 as its day low. The current market capitalization of Freeport-McMoRan Inc. is $57.69B. A total of 16.98 million shares were traded on the day, compared to an average of 13.87M shares.

Insider Activity

Additionally, investors take into account insider trades when predicting how a stock will perform. During the recent three months, FCX has seen 2 BUY and 1 SELL insider trades, representing the acquisition of 75,000 and the disposition of 75,000 shares. Over the last 12 months, there were 43 BUYs and 17 SELLs from insiders. Insiders purchased 2,102,911 shares during that period but sold 1,107,441.

In the most recent transaction, Currault Douglas N. II sold 75,000 shares of FCX for 40.25 per share on Dec 02. After the transaction, the Senior VP & General Counsel now owns 136,432 company shares. In a previous transaction on Aug 29, Lance Ryan Michael bought 31,000 shares at 31.88 per share. FCX shares that Director owns now total 32,132.

Among the insiders who bought shares, Lewis Sara Grootwassink acquired of 3,000 shares on Aug 03 at a per-share price of $28.79. This resulted in the Director holding 13,800 shares of FCX after the transaction. In another insider transaction, MCCOY DUSTAN E sold 8,200 shares at $39.24 per share on May 31. Company shares held by the Director now total 134,400.

Dividend

It is more appealing for investors to invest in companies that pay dividends because dividends generate immediate cash flow and indicate a positive outlook for the company. Freeport-McMoRan Inc. pays an annual dividend of $0.60, resulting in a dividend yield of 1.40%, and it has a price to earnings (P/E) ratio of 16.22. FCX’s most recent ex-dividend date was 1/12/2023 when it declared a $0.15 quarterly dividend that was paid in cash on 2/1/2023. Previously, the company paid the dividend on 11/1/2022 with an ex-dividend date of 10/13/2022. The FCX stock dividend was $0.15 per share in cash.

Though price targets are rarely accurate, they can exert some influence from time to time and were often accepted as valuable by the market. According to analysts who have offered 12-month price targets for FCX in the last 3 months, the mean price target is $38.74 with high estimates of $55.00 and low estimates of $23.00. In terms of 52-week highs and lows, FCX has a high of $51.63 and a low of $24.74.

As of this writing, FCX has an earnings estimate of $0.36 per share for the current quarter. EPS was calculated based on a consensus of 13 estimates, with a high estimate of $0.74 per share and a lower estimate of $0.25. The company reported an EPS of $0.58 in the last quarter, which was -4.90% lower than expectations of $0.61.

Balance Sheet Annually/Quarterly

A balance sheet is a report that shows the company’s assets and liabilities. In addition, it shows how much equity investors have invested in the company. Investors can determine the company’s prospects by calculating its financial ratios based on this information.

Analysts Opinion

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. Currently, 21 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for FCX is Sell with a score of 3.50. A total of 9 analysts rated the stock as Buy while 1 rated it as Overweight while 10 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 1 thought it should be Sold.

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