Freeport-McMoran Copper & Gold Inc. (NYSE:FCX) shares were up 9.3% during trading on Tuesday . The stock traded as high as $12.79 and last traded at $12.73, with a volume of 36,410,176 shares. The stock had previously closed at $11.65.

Several research analysts have recently commented on FCX shares. Nomura Holdings Inc. lifted their price target on Freeport-McMoran Copper & Gold from $7.00 to $10.00 in a report on Friday, April 8th. Jefferies Group lifted their price target on Freeport-McMoran Copper & Gold to $10.00 in a report on Wednesday, March 30th. Vetr upgraded Freeport-McMoran Copper & Gold from a “hold” rating to a “buy” rating and set a $10.05 price target on the stock in a report on Tuesday, March 15th. Zacks Investment Research upgraded shares of Freeport-McMoran Copper & Gold from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Tuesday, April 19th. Finally, HSBC restated a “buy” rating on shares of Freeport-McMoran Copper & Gold in a report on Thursday, July 7th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company’s stock. Freeport-McMoran Copper & Gold presently has an average rating of “Hold” and a consensus target price of $12.63.

The firm’s market capitalization is $16.15 billion. The stock’s 50-day moving average price is $11.04 and its 200 day moving average price is $9.12.

Freeport-McMoran Copper & Gold (NYSE:FCX) last issued its quarterly earnings results on Tuesday, April 26th. The natural resource company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. During the same period in the previous year, the business posted ($0.06) earnings per share. The business earned $3.53 billion during the quarter, compared to analyst estimates of $3.52 billion. The firm’s quarterly revenue was down 15.1% on a year-over-year basis. On average, analysts anticipate that Freeport-McMoran Copper & Gold Inc. will post $0.53 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in FCX. Gamco Investors INC. ET AL increased its position 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 during the period. Letko Brosseau & Associates Inc. increased its position 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 during the period. Comerica Bank increased its position in Freeport-McMoran Copper & Gold by 7.2% in the fourth quarter. Comerica Bank now owns 342,339 shares of the natural resource company’s stock worth $1,852,000 after buying an additional 23,102 shares during the period. Thornburg Investment Management Inc. increased its position 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 during the period. Finally, Bank of Montreal Can increased its position 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 during the period.

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.

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