Last Updated: 19 Sep 2024
Executive Summary
Freeport-McMoran Copper & Gold Inc. (FCX) is a leading global mining company with operations in the Americas, Asia, and Africa. The company is a major producer of copper, gold, molybdenum, and silver. FCX has a strong financial position with a market capitalization of $63.1 billion and an EBITDA of $9.3 billion. The company's stock is currently trading at $43.92, below its 52-week high of $55.07.
Company Overview
FCX was founded in 1912 and is headquartered in Phoenix, Arizona. The company has a global workforce of over 30,000 employees. FCX's operations are divided into three segments:
Mining: This segment includes the company's copper, gold, molybdenum, and silver mining operations.
Concentrating: This segment includes the company's copper and molybdenum concentrating operations.
Smelting and Refining: This segment includes the company's copper and molybdenum smelting and refining operations.
Fundamental Analysis
FCX has a strong financial position with a market capitalization of $63.1 billion and an EBITDA of $9.3 billion. The company's revenue has grown steadily in recent years, and its profit margin has improved. FCX has a strong balance sheet with low levels of debt.
The company's key financial metrics are as follows:
Revenue: $24.7 billion
EBITDA: $9.3 billion
Net Income: $4.3 billion
Earnings Per Share: $1.33
Dividend Yield: 0.0139%
Technical Analysis
FCX's stock price has been in a downtrend since reaching a 52-week high of $55.07 in April 2023. The stock is currently trading below its 50-day and 200-day moving averages. The relative strength index (RSI) is below 50, indicating that the stock is oversold.
Short Term Outlook
The technical analysis suggests that FCX's stock price is likely to continue to decline in the short term. The stock is trading below its moving averages and the RSI is oversold. However, the company's strong financial position and improving fundamentals could provide support for the stock price.
Long Term Outlook
The long-term outlook for FCX is positive. The company is a major producer of copper, gold, molybdenum, and silver. These metals are essential for the global economy, and demand is expected to grow in the coming years. FCX has a strong financial position and a track record of operational excellence. The company is well-positioned to benefit from the growing demand for metals.
Analyst Recommendations
The majority of analysts have a buy rating on FCX's stock. The average analyst target price is $54.23, which represents a potential upside of 23.4% from the current price.
