Stocks of Freeport-McMoRan Inc (NYSE:FCX) traded higher last session on Wall Street, down -2.77% to $49.92.
FCX stock price is now 14.28% away from the 50-day moving average and 10.97% away from the 200-day moving average. The market capitalization of the company currently stands at $71.73B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target maintained at $52, Scotiabank recently Downgraded its rating from Sector Outperform to Sector Perform for Freeport-McMoRan Inc (NYSE: FCX). On September 04, 2024, UBS Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $54 to quote $55, while ‘Morgan Stanley’ rates the stock as ‘Overweight’
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 $5.21 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 $182.33 million. A total of 0.77% of the company’s stock is owned by insiders.
During the past 12 months, Freeport-McMoRan Inc has had a low of $32.67 and a high of $55.15. As of last week, the company has a debt-to-equity ratio of 0.54, a current ratio of 2.40, and a quick ratio of 1.34. According to the stock market information, the enterprise value for the company is $87162863616, which is based on a 37.66 price-to-earnings ratio, a 3.66 price-to-earnings-growth ratio, and a beta of 1.89. The fifty day moving average price for FCX is $43.7612 and a two-hundred day moving average price translates $45.13015 for the stock.
The latest earnings results from Freeport-McMoRan Inc (NYSE: FCX) was released for 2024-06-30. The net profit margin was 7.89% and return on equity was 11.39% for FCX. The company reported revenue of $6.62 billion for the quarter, compared to $5.74 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 15.46 percent.
