Freeport-McMoRan (FCX, Financial) experienced mixed reactions in the options market, with its stock declining by 68 cents, settling around $38.97. The trading activity showed a low volume of 20,000 contracts, where call options outpaced puts, resulting in a put/call ratio of 0.25, much lower than the usual 0.89.
The implied volatility for the stock, denoted as IV30, decreased by 1.45, reaching 41.11, which remains higher than its 52-week median. This indicates an expected daily fluctuation of $1.01 in the stock price. Additionally, the put-call skew has evened out, hinting at a slightly bullish outlook among traders.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for Freeport-McMoRan Inc (FCX, Financial) is $46.19 with a high estimate of $60.04 and a low estimate of $27.32. The average target implies an upside of 18.66% from the current price of $38.93. More detailed estimate data can be found on the Freeport-McMoRan Inc (FCX) Forecast page.
Based on the consensus recommendation from 21 brokerage firms, Freeport-McMoRan Inc's (FCX, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Freeport-McMoRan Inc (FCX, Financial) in one year is $46.79, suggesting a upside of 20.21% from the current price of $38.925. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Freeport-McMoRan Inc (FCX) Summary page.
