Freeport-McMoRan Inc (NYSE: FCX) has recently experienced extremely important negative changes in investment behavior: the stock’s recent price decline challenged its longer term uptrend, and its shorter term price trend turned down.
Meaningful negative changes in fundamentals have recently occurred for Freeport-McMoRan Inc (NYSE: FCX). Negative developments: significant quarterly sales deceleration occurred, the consensus estimate for December, 2024 decreased significantly, and the consensus estimate for December, 2025 decreased significantly. Positive development: significant quarterly earnings acceleration occurred.
In light of these highly negative signals we are reviewing our current Overall Rating of D. We would continue to view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
FCX is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Freeport-McMoRan has a current Value Trend Rating of D (Negative). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. Freeport-McMoRan has a neutral Appreciation Score of 54 and a slightly negative Power Rating of 32, producing the Negative Value Trend Rating.
Recent Price Action
Freeport-McMoRan Inc (NYSE: FCX) stock closed at $38.16 on 2/27/24 after a modest gain of 0.3%. However, unusually low trading volume at 59% of normal accompanied the advance. The stock has declined -1.7% during the last week and has performed in line with the market over the last nine months.
Be the first to comment