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

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Recently, Yahoo Finance discussed the stock, revealing that Freeport-McMoRan Announces Leadership Transition.

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Stocks Info

This NYSE-listed company operates within the Copper industry segment, falling under the Basic Materials sector. The current market capitalization of Freeport-McMoRan Inc is $57.16B. A total of 7.59 million shares were traded on the day, compared to an average of 12.31M shares.

In the most recent transaction, Lewis Sara Grootwassink bought 4,000 shares of FCX for 34.90 per share on May 12 ’23. After the transaction, the Director now owns 17,800 company shares.

Dividend

The income generated by dividends is an indication that a company is improving its financial position, which is why investors prefer companies paying dividends. Freeport-McMoRan Inc pays an annual dividend of $0.30, resulting in a dividend yield of 0.75%, and it has a price to earnings (P/E) ratio of 31.39. FCX’s most recent ex-dividend date was 1/11/2024 when it declared a $0.15 quarterly dividend that was paid in cash on 2/1/2024. Previously, the company paid the dividend on 11/1/2023 with an ex-dividend date of 10/12/2023. The FCX stock dividend was $0.15 per share in cash.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. In terms of 52-week highs and lows, FCX has a high of $44.53 and a low of $32.77.

As of this writing, FCX has an earnings estimate of $0.38 per share for the current quarter. EPS was calculated based on a consensus of 9 estimates, with a high estimate of $0.51 per share and a lower estimate of $0.26. The company reported an EPS of $0.39 in the last quarter, which was 14.70% higher than expectations of $0.34.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects. FCX’s latest balance sheet shows that the firm has $8.07B in Cash & Short Term Investments as of fiscal 2021. There were $9.77B in debt and $5.89B in liabilities at the time. Its Book Value Per Share was $11.63, while its Total Shareholder’s Equity was $23.02B.

Analysts Opinion

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. 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 3.85.

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