- FCX has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $275.3 million.
- FCX has traded 3.2 million shares today.
- FCX is trading at 2.75 times the normal volume for the stock at this time of day.
- FCX is trading at a new high 3.01% above yesterday's close.
'Strong on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as M&A events, material stock news, analyst upgrades, insider buying, buying from 'superinvestors,' or that hedge funds and momentum traders are piling into a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize. In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success. EXCLUSIVE OFFER: Get the inside scoop on opportunities in FCX with the Ticky from Trade-Ideas. See the FREE profile for FCX NOW at Trade-Ideas More details on FCX: Freeport-McMoRan Inc., a natural resource company, engages in the acquisition of mineral assets, and oil and natural gas resources. It primarily explores for copper, gold, molybdenum, cobalt, silver, and other metals, as well as oil and gas. The stock currently has a dividend yield of 1%. Currently there are 9 analysts that rate Freeport-McMoRan a buy, 1 analyst rates it a sell, and 4 rate it a hold. The average volume for Freeport-McMoRan has been 16.7 million shares per day over the past 30 days. Freeport-McMoRan has a market cap of $20.2 billion and is part of the basic materials sector and metals & mining industry. The stock has a beta of 2.33 and a short float of 4.1% with 3.19 days to cover. Shares are down 13.9% year-to-date as of the close of trading on Tuesday. EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE. TheStreetRatings.com Analysis: TheStreet Quant Ratings rates Freeport-McMoRan as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself. Highlights from the ratings report include:
- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Metals & Mining industry. The net income has significantly decreased by 585.1% when compared to the same quarter one year ago, falling from $510.00 million to -$2,474.00 million.
- The debt-to-equity ratio of 1.29 is relatively high when compared with the industry average, suggesting a need for better debt level management. To add to this, FCX has a quick ratio of 0.67, this demonstrates the lack of ability of the company to cover short-term liquidity needs.
- Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Metals & Mining industry and the overall market, FREEPORT-MCMORAN INC's return on equity significantly trails that of both the industry average and the S&P 500.
- Net operating cash flow has decreased to $717.00 million or 40.29% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
- Despite any intermediate fluctuations, we have only bad news to report on this stock's performance over the last year: it has tumbled by 42.14%, worse than the S&P 500's performance. Consistent with the plunge in the stock price, the company's earnings per share are down 585.71% compared to the year-earlier quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
- You can view the full Freeport-McMoRan Ratings Report.
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