Freeport-McMoran Copper & Gold Inc. (NYSE:FCX)’s share price fell 8.1% on Tuesday . The stock traded as low as $10.43 and last traded at $10.43, with a volume of 22,836,387 shares trading hands. The stock had previously closed at $11.35.

Several research firms have recently weighed in on FCX. Macquarie reissued a “neutral” rating and set a $10.00 price target on shares of Freeport-McMoran Copper & Gold in a report on Tuesday, June 21st. Zacks Investment Research lowered Freeport-McMoran Copper & Gold from a “buy” rating to a “hold” rating in a research note on Monday, May 30th. Jefferies Group upgraded Freeport-McMoran Copper & Gold from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Thursday, May 26th. Goldman Sachs Group Inc. began coverage on Freeport-McMoran Copper & Gold in a research note on Thursday, May 19th. They issued a “neutral” rating and a $12.00 price objective for the company. Finally, Cowen and Company upped their price objective on Freeport-McMoran Copper & Gold from $10.00 to $15.00 and gave the stock an “outperform” rating in a research note on Monday, May 16th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. Freeport-McMoran Copper & Gold presently has a consensus rating of “Hold” and an average price target of $12.63.

The company has a 50-day moving average price of $11.01 and a 200 day moving average price of $9.01. The company’s market cap is $13.81 billion.

Freeport-McMoran Copper & Gold (NYSE:FCX) last released its earnings results on Tuesday, April 26th. The natural resource company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.52 billion. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) EPS. On average, equities research analysts anticipate that Freeport-McMoran Copper & Gold Inc. will post $0.50 EPS for the current year.

Several hedge funds recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Freeport-McMoran Copper & Gold by 29.1% in the fourth quarter. Vanguard Group Inc. now owns 98,557,392 shares of the natural resource company’s stock worth $667,234,000 after buying an additional 22,244,887 shares in the last quarter. Thornburg Investment Management Inc. boosted its stake in Freeport-McMoran Copper & Gold by 571.6% in the fourth quarter. Thornburg Investment Management Inc. now owns 11,092,464 shares of the natural resource company’s stock worth $75,096,000 after buying an additional 9,440,903 shares in the last quarter. Letko Brosseau & Associates Inc. boosted its stake in Freeport-McMoran Copper & Gold by 54.7% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 8,564,526 shares of the natural resource company’s stock worth $57,982,000 after buying an additional 3,029,575 shares in the last quarter. Bank of Montreal Can boosted its stake in Freeport-McMoran Copper & Gold by 1,549.1% in the fourth quarter. Bank of Montreal Can now owns 5,531,205 shares of the natural resource company’s stock worth $37,446,000 after buying an additional 5,195,795 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its stake in Freeport-McMoran Copper & Gold by 52.9% in the fourth quarter. Gamco Investors INC. ET AL now owns 4,186,394 shares of the natural resource company’s stock worth $28,342,000 after buying an additional 1,448,002 shares in the last quarter.

Freeport-McMoRan Inc (FCX) is a natural resource company with a portfolio of mineral assets, and oil and natural gas resources. The Company’s segments include the Morenci, Cerro Verde, Grasberg and Tenke Fungurume copper mines, the Rod & Refining operations and the U.S. Oil & Gas Operations. It has organized its operations into five primary divisions: North America copper mines, South America mining, Indonesia mining, Africa mining and Molybdenum mines.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.