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Saturday, June 3, 2023

Freeport-McMoRan Inc. (FCX) Is Not Likely To Be The Same Tomorrow

After Hours

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. After-hours trades for Freeport-McMoRan Inc. (FCX) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.05, or 0.15%, to $33.26. The Freeport-McMoRan Inc. has recorded 380,073 volume in the after hours trading session. Recently, Yahoo Finance discussed the stock, revealing that Freeport-McMoRan First-Quarter 2023 Financial and Operating Results Release Available on Its Website.

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Stocks Info

Freeport-McMoRan Inc. is listed on the NYSE in the Basic Materials sector while operating in the Copper industry. At the end of the last regular session, the stock closed at $33.21 and fluctuated between $34.12 as its day high and $33.05 as its day low. The current market capitalization of Freeport-McMoRan Inc. is $47.53B. A total of 17.55 million shares were traded on the day, compared to an average of 12.87M shares.

Insider Activity

Insider trades are also considered as indicators of how a stock will perform in the future, in addition to stock predictions. During the recent three months, FCX has seen 4 BUY and 3 SELL insider trades, representing the acquisition of 9,221 and the disposition of 24,788 shares. Over the last 12 months, there were 38 BUYs and 17 SELLs from insiders. Insiders purchased 2,442,353 shares during that period but sold 1,324,477.

In the most recent transaction, Lewis Sara Grootwassink bought 4,000 shares of FCX for 34.90 per share on May 12. After the transaction, the Director now owns 17,800 company shares. In a previous transaction on Mar 01, Mikes Ellie L. sold 11,678 shares at 43.17 per share. FCX shares that Chief Accounting Officer owns now total 32,333.

Among the insiders who sold shares, Currault Douglas N. II disposed of 75,000 shares on Dec 02 at a per-share price of $40.25. This resulted in the Senior VP & General Counsel holding 136,432 shares of FCX after the transaction. In another insider transaction, Lance Ryan Michael bought 31,000 shares at $31.88 per share on Aug 29. Company shares held by the Director now total 32,132.


The reasons why investors prefer dividend-paying companies are that dividends generate immediate cash flow and indicate that the company will perform well in the future. Freeport-McMoRan Inc. pays an annual dividend of $0.30, resulting in a dividend yield of 0.90%, and it has a price to earnings (P/E) ratio of 18.54. FCX’s most recent ex-dividend date was 4/13/2023 when it declared a $0.15 quarterly dividend that was paid in cash on 5/1/2023. Previously, the company paid the dividend on 2/1/2023 with an ex-dividend date of 1/12/2023. The FCX stock dividend was $0.15 per share in cash.

Despite rarely being accurate, price targets can exert some form of influence at times, and are often regarded as valuable by markets. According to analysts who have offered 12-month price targets for FCX in the last 3 months, the mean price target is $46.22 with high estimates of $57.00 and low estimates of $29.00. In terms of 52-week highs and lows, FCX has a high of $46.64 and a low of $24.65.

As of this writing, FCX has an earnings estimate of $0.55 per share for the current quarter. EPS was calculated based on a consensus of 11 estimates, with a high estimate of $0.74 per share and a lower estimate of $0.42. The company reported an EPS of $0.52 in the last quarter, which was 13.00% higher than expectations of $0.46.

Balance Sheet Annually/Quarterly

As well as showing the assets and liabilities of the company, the balance sheet also shows the amount invested in equity by investors. Investors can analyze a company’s future prospects by calculating its financial ratios based on this information. FCX’s latest balance sheet shows that the firm has $8.07B in Cash & Short Term Investments as of fiscal 2021. There were $9.45B in debt and $5.89B in liabilities at the time. Its Book Value Per Share was $11.21, while its Total Shareholder’s Equity was $23.02B.

Analysts Opinion

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. Currently, 0 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 Buy with a score of 3.50.

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