Mining and oil company, Freeport-McMoRan Inc. (NYSE:FCX) [Trend Analysis] has kept up with the changing appetite, stock moved down around -10.77% in early session as it gain volume of 51.28 Million shares. Freeport-McMoRan Inc. (FCX) released that it has signed into a definitive contract to sell its interests in TF Holdings Limited to China Molybdenum Co., Ltd. for $2.65B in cash and contingent consideration of up to $120 million.
The contingent consideration consists of $60 million if the average copper price exceeds $3.50 per pound and $60 million if the average cobalt price exceeds $20 per pound, both during the 24-month period between 2018 and 2019. TF Holdings is a Bermuda holding company that indirectly owns an 80 percent interest in Tenke Fungurume Mining S.A. FCX has a 70 percent interest in TF Holdings and an effective 56 percent interest in Tenke.
Moving toward the volatility measures, the price volatility of stock was 8.92% for a week and 7.34% for a month as well as price volatility’s Average True Range for 14 days was 0.93. The beta, which indicates risk in relegation to the market, remained 2.64. The firm past twelve months price to sales ratio was 0.86 and price to cash ratio remained 39.76. As far as the returns are concern, the return on equity was recorded as -153.80% and return on investment was -40.50%, while its return on asset stayed at -28.80%.
For current month, 1 analyst from pool recommended for an “overweight” rating, while 1 gave rating of “Buy” and 16 analysts suggest to “Hold” and 2 gave preference to “underweight,” according to research rating by WSJ.
While alarming thing to be notice is price target, the average pool price target for FCX has been mentioned as; 12.50 tends to high price target, medium level touched to 10.00, and 1.30 was assigned as lowest share price targets. To accommodate all of these, average analyst price target appeared by 9.58, where as the current price is 10.52, as per research conducted by WSJ.
The liquidity measure in recent quarter results of company was recorded 1.60 as current ratio, on the other side the debt to equity ratio was 5.63. The Company has gross margin of 1.80% and profit margin was negative -91.40% in trailing twelve months.
Freeport-McMoRan Inc. (NYSE:FCX) is ahead its 52 week low with 198.86%and going down from its 52 week high price with -54.84%. The company’s shares performance for the last one month was 12.75% and -22.36% in the previous week. The stock price of firm is moving down from its 20 days moving average with -9.99% and remote isolated positively from 50 days moving average with 0.89%.