FCX Stock Price and Chart NYSE:FCX

© 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer. Freeport-McMoRan saw a increase in short interest in the month of August. As of August 31st, there was short interest totaling 15,600,000 shares, an increase of 9.7% from the August 15th total of 14,220,000 shares. Based on an average trading volume of 10,820,000 shares, the days-to-cover ratio is currently 1.4 days.

The company has implemented a comprehensive environmental management system designed to minimize its impact on the environment while supporting the communities in which it operates. Freeport-McMoRan was founded in 1988 when Freeport Minerals Corporation merged with McMoRan Oil & Gas Company. Both companies had a long history in the mining industry, with Freeport Minerals founded in 1912 and McMoRan Oil & Gas in 1969. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services. Add copper exposure to your portfolio with a miner and dividend distributor.

Freeport-McMoRan (FCX) Stock Moves -0.12%: What You Should Know

This allows the company to process the ore from its mines into finished products, such as copper cathodes and gold bars. Before investing in a company’s https://1investing.in/ stock, it’s crucial to evaluate its financial strength. Investing in companies with poor financial strength poses a higher risk of permanent loss.

Freeport-McMoRan’s stock was trading at $38.00 on January 1st, 2023. Since then, FCX shares have increased by 6.2% and is now trading at $40.37. Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment. The Grasberg mine is a significant source of revenue for Freeport-McMoRan, accounting for approximately 30% of the company’s copper production and 40% of its gold production. The mine has operated since the 1970s and has significantly expanded recently.

Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Freeport-McMoRan Inc is a publicly traded mining company that operates primarily in North and South America. The company is in the top ten of the world’s largest producers of copper, gold and molybdenum, and its operations include mines, smelters and refineries. Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. It also operates a portfolio of oil and gas properties primarily located in offshore California and the Gulf of Mexico.

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View analysts price targets for FCX or view top-rated stocks among Wall Street analysts. The merger of the two companies created a vertically integrated mining company that could control every aspect of the mining process. The union of the two companies allowed Freeport-McMoRan to become one of the world’s largest producers of copper, gold and molybdenum. 13 Wall Street equities research analysts have issued “buy,” “hold,” and “sell” ratings for Freeport-McMoRan in the last year.

Upgrade to MarketBeat All Access to add more stocks to your watchlist. One share of FCX stock can currently be purchased for approximately $40.37. 233 employees have rated Freeport-McMoRan Chief Executive Officer Richard C. Adkerson on Glassdoor.com. Richard C. Adkerson has an approval rating of 87% among the company’s employees. Freeport-McMoRan announced a quarterly dividend on Wednesday, June 21st.

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At a stock price of $41.04, Freeport-McMoRan has a market cap of $58.80 billion. The company’s GF Value, an estimation of fair value, stands at $40.05, marking the stock as fairly valued. This valuation sets the stage for a deeper exploration of the company’s intrinsic value, combining financial assessment with essential company details. Here are some of the largest exchange-traded funds focused on the metals industry. Mining companies are subject to various environmental and safety regulations, which can impact their operations and financial performance. As a result, changes in laws, or increased enforcement of existing regulations, could increase the cost of doing business for Freeport-McMoRan.

Freeport-McMoRan has been profitable six out of the past ten years. The GF Value is a unique measure of a stock’s intrinsic value, computed based on historical trading multiples, a GuruFocus adjustment factor informed by past performance and growth, and future business performance estimates. The GF Value Line on our summary page provides an overview of the fair value at which the stock should ideally trade.

Freeport-McMoRan (FCX) Dips More Than Broader Markets: What You Should Know

Analysts see these stocks as undervalued, but here’s what you really need to know before buying them. Based on strong copper demand due to the electrification of everything trend and ongoing supply constraints, the metal’s price should remain robust. The industry with the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries. The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%. An industry with a larger percentage of Zacks Rank #1’s and #2’s will have a better average Zacks Rank than one with a larger percentage of Zacks Rank #4’s and #5’s. The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank.

The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. It allows the user to better focus on the stocks that are the best fit for his or her personal trading style. Freeport-McMoRan has a solid commitment to sustainability and responsible mining practices.

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The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season. As an investor, you want to buy stocks with the highest probability of success. That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. The scores are based on the trading styles of Value, Growth, and Momentum. There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score.

The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. Freeport-McMoRan Inc. was incorporated in 1987 and is headquartered in Phoenix, what is fortune 500 company means Arizona. 13 Wall Street research analysts have issued 1 year price objectives for Freeport-McMoRan’s shares. On average, they anticipate the company’s share price to reach $39.96 in the next year.

In addition to its environmental initiatives, Freeport-McMoRan is committed to supporting the communities in which it operates. The company has implemented a social responsibility program, which includes initiatives to improve education, healthcare and economic development in the communities near its mining operations. The company’s revenues have steadily grown over the past decade, driven by increasing demand for copper and other essential metals. Freeport-McMoRan’s operations are primarily in North and South America, with mines in Arizona, Colorado, New Mexico and Chile. The company also owns a 48.76% stake in the Grasberg mine in Indonesia, the largest gold mine in the world and the second-largest copper mining operation in the world. Comparing a company’s return on invested capital (ROIC) to its weighted average cost of capital (WACC) can also help evaluate its profitability.

• In addition, the company has invested in technologies that allow it to recycle and reuse water, and it has also partnered with local communities to implement water conservation projects.
• The GF Value is a unique measure of a stock’s intrinsic value, computed based on historical trading multiples, a GuruFocus adjustment factor informed by past performance and growth, and future business performance estimates.
• If the stock price significantly surpasses the GF Value Line, it is considered overvalued, and its future return is likely to be poor.
• Mining companies are subject to various environmental and safety regulations, which can impact their operations and financial performance.

The cash-to-debt ratio and interest coverage can provide valuable insights into a company’s financial strength. Freeport-McMoRan has a cash-to-debt ratio of 0.7, which is lower than 75.41% of companies in the Metals & Mining industry, indicating fair financial strength. Copper and gold prices can be highly cyclical and are influenced by various factors, including global economic conditions, geopolitical events and supply and demand dynamics. As a result, a significant decline in metal prices could harm Freeport-McMoRan’s financial performance. Freeport-McMoRan’s strong financial performance has allowed the company to invest in new projects and expand its operations. The company has recently focused on developing new mining projects in North and South America, including the Lone Star copper project in Arizona and the Quebrada Blanca Phase 2 copper project in Chile.