Freeport-McMoRan Inc. (FCX) shares are trading at higher $24.08 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $21.64.
To add more color to this target, the company’s high over the last year is $24.38 and the low is $4.82. Over the last 52 weeks, FCX is up 120.51% while the S&P 500 is up 18.49%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, FCX reported a profit of $983.0 million. Freeport-McMoRan Inc. also saw revenues increase to $3.85 billion. In addition, FCX has free cash flow of $117.0 million as of 09-2020. The company’s EBITDA came in at $1.27 billion which compares well with its peers.
FCX booked profit margins of -0.80%, its Return on Equity (ROE) is -1.20%, and its Return on Assets is -0.30%. All told, it is clear that, FCX needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. FCX has a short ratio of 1.53 and outstanding shares of 1.45B.
FCX has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 22.03 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.08. Freeport-McMoRan Inc. FCX also noted assets of $41.1 billion at the end of the last quarter. Investors should also keep an eye on sector updates as FCX has historically followed its peers on positive news.
All told, Freeport-McMoRan Inc. FCX has strung together solid data and demonstrated underlying fundamentals. At its current valuation, FCX represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Freeport-McMoRan Inc. FCX is now commanding a market cap of 35.01B and a float of 1.44B. FCX is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of FCX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in FCX, either long or short, and we have not been compensated for this article.