FCX Stock Summary and Trading Ideas (Freeport-Mcmoran | NYSE:FCX)

Freeport-McMoRan Inc is an international mining company. It has organized its mining operations into four primary divisions: North America copper mines, South America mining, Indonesia mining and Molybdenum mines. Its reportable segments include the Morenci, Cerro Verde and Grasberg (Indonesia mining) copper mines, the Rod & Refining operations and Atlantic Copper Smelting and Refining. It derives key revenue from the sale of Copper.

Freeport-Mcmoran trades on the NYSE stock market under the symbol FCX.

As of April 23, 2024, FCX stock price declined to $47.99 with 18,421,641 million shares trading.

FCX has a beta of 1.28, meaning it tends to be more sensitive to market movements. FCX has a correlation of 0.22 to the broad based SPY ETF.

FCX has a market cap of $68.78 billion. This is considered a Large Cap stock.

Last quarter Freeport-Mcmoran reported $6 billion in Revenue and $.27 earnings per share. This beat revenue expectation by $45 million and exceeded earnings estimates by $.05.

In the last 3 years, FCX stock traded as high as $52.42 and as low as $24.80.

The top ETF exchange traded funds that FCX belongs to (by Net Assets): VTI, VOO, SPY, IVV, VTV.

FCX has underperformed the market in the last year with a price return of +23.1% while the SPY ETF gained +24.3%. However, in the short term, FCX had mixed performance relative to the market. It has outperformed in the last 3 months, returning +28.6% vs +4.9% return in SPY. But in the last 2 weeks, FCX shares have been beat by the market, returning -3.6% compared to an SPY return of -2.5%.

FCX support price is $47.73 and resistance is $50.17 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that FCX stock will trade within this expected range on the day.