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Sunday, April 2, 2023

Freeport-McMoRan Inc. (FCX): A Case For Going Higher

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 same, with the stock’s consolidated last price remained same to $39.17. The Freeport-McMoRan Inc. has recorded 239,680 volume in the after hours trading session. Most recently, Yahoo Finance reported about the stock as it publicized that Freeport-McMoRan Receives Copper Mark at PT Freeport Indonesia.

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Stocks Info

The company is listed on the NYSE and operates within the Copper industry segment. At the end of the last regular session, the stock closed at $39.17 and fluctuated between $40.90 as its day high and $38.87 as its day low. The current market capitalization of Freeport-McMoRan Inc. is $54.87B. A total of 11.79 million shares were traded on the day, compared to an average of 11.76M shares.

Insider Activity

Furthermore, investors take into consideration insider trades when predicting a stock’s future trajectory. During the recent three months, FCX has seen 12 BUY and 4 SELL insider trades, representing the acquisition of 2,252,940 and the disposition of 1,091,649 shares. Over the last 12 months, there were 34 BUYs and 7 SELLs from insiders. Insiders purchased 2,433,781 shares during that period but sold 1,231,384.

In the most recent transaction, Mikes Ellie L. sold 11,678 shares of FCX for 43.17 per share on Mar 01. After the transaction, the Chief Accounting Officer now owns 32,333 company shares. In a previous transaction on Dec 02, Currault Douglas N. II sold 75,000 shares at 40.25 per share. FCX shares that Senior VP & General Counsel owns now total 136,432.

Among the insiders who bought shares, Lance Ryan Michael acquired of 31,000 shares on Aug 29 at a per-share price of $31.88. This resulted in the Director holding 32,132 shares of FCX after the transaction. In another insider transaction, Lewis Sara Grootwassink bought 3,000 shares at $28.79 per share on Aug 03. Company shares held by the Director now total 13,800.


The dividend paying company demonstrates a positive outlook for investors and helps them generate immediate cash. Freeport-McMoRan Inc. pays an annual dividend of $0.60, resulting in a dividend yield of 1.53%, and it has a price to earnings (P/E) ratio of 16.46. 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.

It has been observed that price targets are rarely accurate, but they can exert some influence from time to time, and are often accepted as valuable in the market. According to analysts who have offered 12-month price targets for FCX in the last 3 months, the mean price target is $45.43 with high estimates of $60.00 and low estimates of $24.00. In terms of 52-week highs and lows, FCX has a high of $51.54 and a low of $24.69.

As of this writing, FCX has an earnings estimate of $0.41 per share for the current quarter. EPS was calculated based on a consensus of 14 estimates, with a high estimate of $0.72 per share and a lower estimate of $0.13. The company reported an EPS of $0.26 in the last quarter, which was 8.30% higher than expectations of $0.24.

Balance Sheet Annually/Quarterly

An equity investor’s investment can be viewed on a balance sheet by looking at what assets and liabilities the company has. Investors can determine the company’s prospects by calculating its financial ratios based on this information.

Analysts Opinion

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. Currently, 23 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 3.47. A total of 10 analysts rated the stock as Buy while 1 rated it as Overweight while 11 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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