FCX stock: buy or sell?

FCX stock price: $9.13 -0.11% At close on August 22nd, 2019

Updated on:
August 22nd, 2019

1

Shares of Freeport-McMoran ended today at $9.13 and stayed steady a neutral -0.11%. Thursday was the 3rd red session in a row, sliding in full a -1.32%. On Aug/14 FCX plunged a dreadful -5.66%.

Freeport-McMoRan Inc. engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas.

Should I buy FCX stock?

Trading stocks requires experience and discipline, and your buying and selling decisions must come following a methodology. That's why is so important to choose your own trading strategy that matches with your character as inversor. There are thousands of trading strategies for you to choose, but at Stocks2.com we prefer those that are simple but successful.

Currently, Freeport-McMoran stock doesn't match any of these trading strategies, so our recommendation is not to buy.

Buy setupElegible
New all-time highNo
New 52 week highNo
Price crossing up 200d MANo
100d MA crossing up 200d MANo
This doesn't mean FCX will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems.

Is Freeport-McMoran stock a buy?

Financial institutions and banks publish stock ratings everyday. At Stocks2.com, we gathered 11 ratings published for FCX stock in the last month.

Is FCX a good stock to buy?
DateAnalyst / BrokerPrevious ratingCurrent rating
2019-7-9JPMorgan Chase & Co.n/aNeutral
2019-7-25Raymond Jamesn/aMarket Perform
2019-7-16BarclaysUnderweightEqual Weight
2019-6-26UBS Groupn/aHold
2019-4-9BarclaysUnderweightSell
2019-4-5UBS Groupn/aHold
2019-4-26Raymond Jamesn/aMarket Perform
2019-4-26Raymond Jamesn/aMarket Perform
2019-2-19CitigroupNeutralBuy
2019-1-9Credit Suisse Groupn/aNeutral
2019-1-25Raymond Jamesn/aMarket Perform

FCX stock analysis

Daily outlook

Freeport-McMoran shares stayed steady -0.11% to $9.13 today.

Freeport-McMoran stayed steady a neutral -0.11% and closed at $9.13. For the last 23 days when FCX stock price broke down the SMA200d line, it slid $-2.48 per share (-21.36%). FCX marked a lower low and a lower high in the short term, defining a downward trend. Climbing above $10.36 would break this short term down trend and open possibilities for reversing this situation.

FCX stock chart (daily)

Weekly outlook

After sliding a dreadful -7.14% in a week last week, Freeport-McMoran closed this week at $9.13 and stayed steady a slightly fine 0.33%.

FCX stock chart (weekly)

FCX stock price history

FCX IPO was on July 10th, 1995 at $6.83 per share1. Since then, FCX stock surged a 33.70%, with an average of 1.40% per year. If you had invested right after FCX's IPO a $1,000 in FCX stock in 1995, it would worth $337.00 today.

1: Adjusted price after possible price splits or reverse-splits.

FCX stock historical price chart

FCX stock reached 52-week highs on August at $14.72, and all-time highs 2011-01-12 with a price of 48.75.

FCX stock price target is $13.40

How much a stock will be priced tomorrow or next week is quite unpredictable However, many stock price predictions are published every day by banks, financial institutions and independent analysts. The accuracy of these stock price predictions is not very high, and you should not blindly believe and make decisions only based on what this ratings or price target predictions say. For the last 30 days we found 11 price targets for FCX stock:
FCX stock price predictions
DateAnalyst / BrokerActionPrevious targetCurrent targetDiff
2019-7-9JPMorgan Chase & Co.Lowers Target$15.00$13.00-13.3%
2019-7-25Raymond JamesSet Price Targetn/a$13.00-
2019-7-16BarclaysUpgradesn/a$12.00-
2019-6-26UBS GroupSet Price Targetn/a$13.00-
2019-4-9BarclaysReiterates$11.00$12.009.1%
2019-4-5UBS GroupSet Price Targetn/a$14.00-
2019-4-26Raymond JamesSet Price Targetn/a$14.00-
2019-4-26Raymond JamesReiteratesn/a$14.00-
2019-2-19CitigroupUpgrades$14.00$16.0014.3%
2019-1-9Credit Suisse GroupInitiatesn/a$12.00-
2019-1-25Raymond JamesLowers Target$14.50$14.00-3.4%
(in average)$13.60$13.40-1.0%
Moving in a range from $16.00 and $12.00, the price forecast for Freeport-McMoran stock is $13.40. In average, analysts' outlook on FCX price forecast is stable from previous estimations.

Financials and fundamental analysis

Earnings date and Earnings per Share

Since last April, when Freeport-McMoran posted its last earnings report, it plummed a scary -34.51%. Unfortunately, reported EPS is not yet available in our database.
FCX earnings date and EPS evolution
QuarterReporting dateEstimated EPSActual EPSSurprise
2017-Q2-n/a0.3n/a
2017-Q32017-10-250.310.349.7%
2017-Q42018-01-250.490.514.1%
2018-Q12018-04-240.580.46-20.7%
2018-Q22018-07-250.540.587.4%
2018-Q32018-10-240.330.356.1%
2018-Q42019-01-240.210.11-47.6%
2019-Q12019-04-220.07n/an/a
2019-Q2-n/an/an/a
2019-Q3-n/an/an/a

Annual financial results

In 2018, Freeport-McMoran annual revenues boosted an amazing 13.56% to $18,628.00 million USD from $16,403.00 marked in 2017. On the other hand, its income margin (compared to sales) grew to 13.97%, that is $2,602.00 million.

Freeport-McMoran presents anual results in December, and to compare its evolution since then, we estimate annual sales and income figures by adding results from the last 4 quarters. This is called TTM (or Twelve Trailing Months). So, Freeport-McMoran TTM sales up to March 2019 were $17,552.00 and income $1,941.00 M USD. When comparing this TTM figures with the last reported annuality, we can esteem Freeport-McMoran business evolution since December 2018: Annual sales up to March, compared to lastest yearly report, fell a fateful -5.78%. Regarding profit margin, Freeport-McMoran decreased -2.91% to 13.97%

FCX annual Sales and Income evolution
YearSalesYoYIncome/(margin)YoY
2013$21,410 M-$2,660 M12.4%-
2014$21,438 M0.13%$-1,268.00 M-5.9%-147.67%
2015$15,877 M-25.94%$-12,195.00 M-76.8%861.75%
2016$14,830 M-6.59%$-4,315.00 M-29.1%-64.62%
2017$16,403 M10.61%$1,817 M11.1%-142.11%
2018$18,628 M13.56%$2,602 M14.0%43.20%
TTM $17,552 M-5.78%$1,941 M11.1%-25.40%

Quarterly financial results

Freeport-McMoran posted $3,792.00 M in revenues for 2019-Q1, a 2.93% up compared to previous quarter. Reported quarter income marked $31.00 M with a profit margin of 0.82%. Profit margin collapsed a -12.35% compared to previous quarter when profit margin was 13.17%. When comparing sales to same quarter last year, Freeport-McMoran sales marked a dreadful drop down and plunged a -22.10%.
FCX quarterly Sales and Income evolution
QuarterSales1QoQ2Income1/(margin)QoQ2
2017-Q2$3,680 M-$257 M7.0%-
2017-Q3$4,160 M13.04%$274 M6.6%6.61%
2017-Q4$5,041 M21.18%$1,041 M20.7%279.93%
2018-Q1$4,868 M-3.43%$692 M14.2%-33.53%
2018-Q2$5,168 M6.16%$869 M16.8%25.58%
2018-Q3$4,908 M-5.03%$556 M11.3%-36.02%
2018-Q4$3,684 M-24.94%$485 M13.2%-12.77%
2019-Q1$3,792 M2.93%$31 M0.8%-93.61%

Freeport-McMoran ownership

When you are planning to invest in shares of a stock, it's worth to review its ownership structure.

Freeport-McMoran shares owned by insiders (that is, founders, CEO, CTO, main executives or other management staff) currently counts a 0.54% of all shares.

In case of Freeport-McMoran stock, 72.37% of its shares are held by institutions (mutual funds, pension funds, big banks and other large financial institutions). Bearish positions for FCX stock account 0.00%, no big difference from last month.

The following table compares ownership indicators for other stocks related to Freeport-McMoran:

FCXBBLBHPNEMRIO
Market cap$13.2 B$105.1 B$126.6 B$20.5 B$81.9 B
Total shares1,450.0 M2,530.0 M2,660.0 M533.5 M1,690.0 M
Float shares1,400.0 M2,640.0 M2,640.0 M816.7 M1,260.0 M
  - Institutional holdings (%)72.4%4.3%3.9%91.0%8.4%
  - Insider holdings (%)0.5%0.0%0.0%0.5%0.0%
Shares in short selling0.0%0.0%0.0%0.0%0.0%

FCX summary

Thursday, August 22nd, 2019
Open$9.22
Close$9.13
Day range$9.09 - $9.29
Previous close$9.14
Session gain-0.11%
Average true range$0.35
50d mov avg$10.74
100d mov avg$11.20
200d mov avg$11.41
Daily patternlb06a
Weekly pattern lb06a

Freeport-McMoran performance

To better understand Freeport-McMoran performance you must compare its gains with other related stocks in same sector or industry. For Freeport-McMoran, the comparison is made against BHP, BHP, Newmont Mining, Rio Tinto, Southern Copper, Teck Resources and VALE.
Stock3m6m12m
FCXFreeport-McMoran-8.97%-30.36%-35.88%
BBLBHP-9.44%-10.75%7.48%
BHP -9.28%-10.47%7.52%
NEMNewmont Mining21.11%9.07%25.82%
RIORio Tinto-16.36%-12.43%6.67%
SCCOSouthern Copper-9.53%-15.36%-28.44%
TECKTeck Resources-17.14%-30.73%-27.70%
VALE -9.65%-13.12%-17.85%

Freeport-McMoran competitors

One check before trading any stock is to have a look a list of its competitors, in this case for Freeport-McMoran. We picked 7 companies as Freeport-McMoran competitors as they are in the same industry or have similar market objectives.

Latest FCX stock news