FCX Stock Analysis – Is To the Moon a Realistic Possibility?

Freeport-McMoRan surged to $53.63 per share this morning, but it remains 8.52% above its mean target price of $49.42. There may still be room for more downwards movement — even after today's 4.1% drop. Analysts are giving the Large-Cap Industrial Metals & Mining stock on average rating of buy, with target prices ranging from $41.43 to $55.24 per share.

Freeport-McMoRan's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 1.6%. The stock's short ratio is 1.4. The company's insiders own 0.63% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.

Another number to watch is the company's rate of institutional share ownership, which now stands at 83.8%. In conclusion, we believe there is mixed market sentiment regarding Freeport-McMoRan.

Institutions Invested in Freeport-McMoRan

Date Reported Holder Percentage Shares Value
2024-03-31 Vanguard Group Inc 8% 120,698,442 $6,473,057,573
2024-03-31 Blackrock Inc. 8% 108,904,790 $5,840,564,004
2024-03-31 Capital Research Global Investors 5% 72,896,288 $3,909,428,003
2024-03-31 FMR, LLC 5% 65,415,451 $3,508,230,707
2024-03-31 State Street Corporation 4% 62,946,951 $3,375,845,049
2024-03-31 Fisher Asset Management, LLC 4% 56,629,948 $3,037,064,171
2024-03-31 Price (T.Rowe) Associates Inc 3% 36,882,874 $1,978,028,572
2024-03-31 Geode Capital Management, LLC 2% 27,806,975 $1,491,288,098
2024-03-31 Franklin Resources, Inc. 2% 22,552,874 $1,209,510,656
2024-03-31 Bank Of New York Mellon Corporation 1% 21,157,118 $1,134,656,260
The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.