Taking a Fresh Look at Freeport-McMoRan (FCX)

Freeport-McMoRan Inc. (FCX) is an interesting player in the Basic Materials space, with a focus on Copper. The stock has been active on the tape, currently trading at $16.78, up from yesterday’s close by 0.84%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

Freeport-McMoRan Inc. (FCX) currently trades with a market capitalization of $24.31 Billion. That value represents a market adjusting for revenues that have been growing by 45.70 % on a quarterly year/year basis as of the company’s last quarterly report.

You can get a sense of how sustainable that is by a levered free cash flow of $3.79 Billion over the past twelve months. Generally speaking, earnings are expected to grow in coming quarters. Analysts are forecasting earnings of $0.54 on a per share basis this quarter. Perhaps, that suggests something about why 0.72% of the outstanding share supply is held by institutional investors.

Technical Analysis

No analysis is ever complete without a thorough survey of a stock’s technical behavior. Looking at the stock’s movement on the chart, Freeport-McMoRan Inc. recorded a 52-week high of $20.25. It is now trading 3.47% off that level. The stock is trading $17.24 its 50-day moving average by 0.46%. The stock carved out a 52-week low down at $11.05.

In recent action, Freeport-McMoRan Inc. (FCX) has made a move of -14.26% over the past month, which has come on Strong relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 15.08, and it’s gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 2.51% with $1.44 Billion sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of FCX.

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