In yesterday’s Wall Street session, Freeport-McMoRan Inc (NYSE:FCX) shares traded at $53.48, up 2.77% from the previous session.
FCX stock price is now 13.22% away from the 50-day moving average and 31.75% away from the 200-day moving average. The market capitalization of the company currently stands at $76.82B.
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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, Higgins Stephen T., Senior VP & CAO sold 80,000 shares of the company’s stock on May 13 ’24. The stock was sold for $4,162,512 at an average price of $52.03. Upon completion of the transaction, the Senior VP & CAO now directly owns 104,377 shares in the company, valued at $5.58 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 06 ’24, Chairman of the Board & CEO ADKERSON RICHARD C sold 54,771 shares of the business’s stock. A total of $2,781,118 was realized by selling the stock at an average price of $50.78. This leaves the insider owning 3,652,478 shares of the company worth $195.33 million. A total of 1.67% 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 $52.52. 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 6.90% and return on equity was 9.94% for FCX. The company reported revenue of $6.32 billion for the quarter, compared to $5.39 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 17.29 percent.
