Add Up The Parts: FEX Could Be Worth $108
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 18 2024
0mins
Should l Buy FCX?
Source: NASDAQ.COM
ETF Analyst Target Price Comparison:
- ETF Channel compared trading prices of holdings against analyst target prices for First Trust Large Cap Core AlphaDEX Fund ETF (FEX).
- Implied analyst target price for FEX is $107.64 per unit, indicating 11.16% upside from the recent price of $96.83 per unit.
Underlying Holdings Analysis:
- Three holdings with notable upside to analyst targets are Marvell Technology Inc (MRVL), Freeport-McMoRan Inc (FCX), and Revvity Inc (RVTY).
- MRVL has a 23.83% higher target price than its recent share price.
- FCX has a 12.57% upside potential based on the average analyst target price.
- RVTY is expected to reach a target price 11.48% above its recent price.
Analyst Target Price Discussion:
- Questions raised about analysts' justification for targets and whether they reflect future optimism or lag behind recent developments.
- High price targets relative to current stock prices can indicate optimism but may lead to downgrades if outdated.
Investor Considerations:
- Investors advised to conduct further research on the validity of analyst targets and stay informed about company and industry developments.
Disclaimer:
- Views expressed in the article are those of the author and not necessarily reflective of Nasdaq, Inc.
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Analyst Views on FCX
Wall Street analysts forecast FCX stock price to rise
15 Analyst Rating
13 Buy
2 Hold
0 Sell
Strong Buy
Current: 56.480
Low
46.00
Averages
58.79
High
70.00
Current: 56.480
Low
46.00
Averages
58.79
High
70.00
About FCX
Freeport-McMoRan Inc. is an international metals company focused on copper. The Company operates geographically diverse assets with significant proven and probable mineral reserves of copper, gold and molybdenum. The Company's segments include the Morenci and Cerro Verde copper mines, the Indonesia operations (including the Grasberg minerals district and PT-FI’s downstream processing facilities), the Rod & Refining operations and Atlantic Copper Smelting & Refining. Its operations include North America, South America and Indonesia. In North America, it manages seven copper operations: Morenci, Bagdad, Safford (including Lone Star), Sierrita and Miami in Arizona, and Chino and Tyrone in New Mexico, and two molybdenum mines: Henderson and Climax in Colorado. It also operates a copper smelter in Miami, Arizona. In South America, it manages two copper operations: Cerro Verde in Peru and El Abra in Chile. In addition to copper, the Grasberg minerals district also produces gold and silver.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Nickel Price Spike: Nickel prices surged on the London Metal Exchange following Indonesia's approval of export tariffs, which could significantly impact global nickel supply as Indonesia produces over 50% of the world's nickel, potentially driving prices higher.
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- Dividend Composition: The dividend consists of a base dividend of $0.075 per share and a variable dividend of $0.075 per share, in line with the company's performance-based payout framework, demonstrating a willingness to share profits with shareholders amid improving profitability.
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