Stocks of Freeport-McMoRan Inc (NYSE:FCX) traded higher last session on Wall Street, up 0.58% to $48.60.
FCX stock price is now -3.97% away from the 50-day moving average and 15.20% away from the 200-day moving average. The market capitalization of the company currently stands at $69.81B.
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With the price target enhanced from $49.50 to $62, Morgan Stanley Upgraded its rating from Equal-Weight to Overweight for Freeport-McMoRan Inc (NYSE: FCX). On April 09, 2024, BofA Securities Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock keeping its target price maintained at $59, while ‘UBS’ rates the stock as ‘Neutral’
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 $5.07 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 $177.51 million. A total of 0.79% 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 $55.24. 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. According to the stock market information, the enterprise value for the company is $85162409984, which is based on a 42.72 price-to-earnings ratio, a 4.15 price-to-earnings-growth ratio, and a beta of 1.92. The fifty day moving average price for FCX is $50.5848 and a two-hundred day moving average price translates $42.31095 for the stock.
The latest earnings results from Freeport-McMoRan Inc (NYSE: FCX) was released for 2024-03-31. 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.
