For this quarter, Wall Street analysts forecast Freeport-McMoRan Inc. (FCX) revenue in a range of $3.46 billion to $4.05 billion, which should be compared with $3.97 billion generated last year. EPS is seen in a range of $0.09 to $0.3, against the $0.26 reported a year ago.The shares have dropped -0.1% since the company’s Mar-19 earnings report. Over the past 12 fiscal quarters, Freeport-McMoRan Inc. (NYSE:FCX) has topped consensus earnings estimates in 6 quarters (50%), missed earnings in 6 quarters (50%), whereas at 0 occasion EPS met analyst expectations. FCX last reported earnings on October 24, 2018 when it released Sep-18 results that exceeded expectations. The company raked in $0.35 per share, -95.37% change on the same period last year. That was better than consensus for $0.33. Revenue for the recent quarter stood at $4.91 billion, up 14% on last year and above the $4.56 billion predicted by analysts.
FCX’s 50 day simple moving average (SMA 50) price is $11.18 and its 200-day simple moving average (SMA 200) price is $14.47. The company’s stock currently has a total float of 1.44B shares. Its weekly volatility is hovering around 3.21% and felt 5.1% volatility in price over a month. On the upside, the share price will test short term resistance at around $11.77. On a downside, the stock is likely to find some support, which begins at $11.4. The failure to get near-term support could push it to $11.19.
Separately, it has been reported that multiple insider activity took place at Freeport-McMoRan Inc. (FCX). Director Mather Courtney sold 75,000 shares for $152,133 in transaction occurred on 2018/10/30. After making this transaction, the Director owns a direct stake of 836,250 shares, worth $1,764,743, as per the last closing price. On 2018/01/31 Whitmire C Donald Jr, VP & Controller Financial Rptg at FCX, dumped 21,500 shares at an average price of $19.49 per share. The selling total is valued at $719,908.
Pres & COO FM Americas, Conger Harry M. Iv had invested in 36,180 shares for $73,943 through a trade on 2017/09/07. Following this activity, the insider holds 551,021 shares worth $857,739 as of recent close. Wall Street’s most bullish Freeport-McMoRan Inc. (NYSE:FCX) analysts are predicting the share price to blow past $25 per share during the next 12 months. The current median share price forecast by them is $14.25, suggesting that the stock could increase 22.84% in that time frame. The average price target of $15.01 calls for a nearly 29.4% increase in the stock price.
It had seen a new analyst call from Credit Suisse, which initiated the stock at Neutral on January 09. Analysts at RBC Capital Mkts, shed their positive views on November 07 by lowering it fromSector Perform to Underperform. The stock lost favor of Clarksons Platou analysts who expressed their lack of confidence in it using a downgrade from Buy to Neutral on September 11. BofA/Merrill analysts came out with bullish views on August 02 when the call was made. They think the stock is now Neutral compared to to their prior call for Underperform.
When looking at valuations, Freeport-McMoRan Inc. (FCX) has a cheap P/E of 6.13x as compared to industry average of 11.32x. Moreover, it trades for 14.57 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 1.69x price/book and 0.84x price/sales. Compared to others, Freeport-McMoRan Inc. is in a different league with regards to profitability, having net margins of 15.7%. To put some perspective around this, the industry’s average net margin is -14.39%. FCX’s ROE is 34.9%, which is also considerably better than the industry’s ROE of 15.95%. It’s also very liquid in the near term, with a current ratio of 2.8. The stock has a debt/capital of 1.12.
Freeport-McMoRan Inc. (NYSE:FCX) shares went up 0.78% in Friday’s session, putting the price tag at $11.6 plus $16.82B in market capitalization. Earlier in the session, the stock traded between $11.365 and $11.74. Trading activity significantly improved as the volume at ready counter increased to 21,532,675 shares versus 21,206,340 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 20,901,100 shares. The stock is now 20.83% above against its bear-market low of $9.6 on December 26, 2018. It has retreated -74.57% since it’s 52-week high of $20.25 reached in January. Now the market price is down -40.54% on the year and up 12.51% YTD.