Freeport-McMoRan Inc (NYSE:FCX) shares traded 3.78% higher at $52.41 on Wall Street last session.
FCX stock price is now 17.85% away from the 50-day moving average and 30.75% away from the 200-day moving average. The market capitalization of the company currently stands at $75.18B.
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With the price target maintained at $59, BofA Securities recently Upgraded its rating from Neutral to Buy for Freeport-McMoRan Inc (NYSE: FCX). , while ‘Bernstein’ rates the stock as ‘Outperform’
In other news, Lewis Sara Grootwassink, Director bought 4,000 shares of the company’s stock on May 12 ’23. The stock was bought for $139,597 at an average price of $34.90. Upon completion of the transaction, the Director now directly owns 17,800 shares in the company, valued at $0.93 million. A total of 1.66% of the company’s stock is owned by insiders.
During the past 12 months, Freeport-McMoRan Inc has had a low of $32.72 and a high of $52.42. As of last week, the company has a debt-to-equity ratio of 0.56, a current ratio of 2.35, and a quick ratio of 1.41.
The net profit margin was 6.89% and return on equity was 9.97% for FCX. The company reported revenue of $5.91 billion for the quarter, compared to $5.76 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.55 percent.
Freeport-McMoRan Inc(FCX) Company Profile
Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company’s assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile. The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. Freeport-McMoRan Inc. was incorporated in 1987 and is headquartered in Phoenix, Arizona.
