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

FCX has been the subject of a number of research analyst reports. Nomura Holdings Inc. reaffirmed a “neutral” rating and issued a $7.00 price target on shares of Freeport-McMoran Copper & Gold in a report on Friday, March 18th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $9.00 price target (up from $6.00) on shares of Freeport-McMoran Copper & Gold in a report on Wednesday, March 23rd. Morgan Stanley cut their price target on Freeport-McMoran Copper & Gold from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Monday, March 28th. Barclays PLC initiated coverage on Freeport-McMoran Copper & Gold in a report on Wednesday, March 30th. They issued an “equal weight” rating and a $9.00 price target for the company. Finally, Jefferies Group lifted their price target on Freeport-McMoran Copper & Gold to $10.00 in a report on Wednesday, March 30th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. Freeport-McMoran Copper & Gold currently has a consensus rating of “Hold” and an average target price of $12.60.

The stock’s market cap is $16.23 billion. The company’s 50 day moving average is $11.14 and its 200-day moving average is $9.17.

Freeport-McMoran Copper & Gold (NYSE:FCX) last released its quarterly earnings results on Tuesday, April 26th. The natural resource company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the previous year, the company earned ($0.06) EPS. The company’s revenue for the quarter was down 15.1% on a year-over-year basis. On average, equities analysts expect that Freeport-McMoran Copper & Gold Inc. will post $0.54 earnings per share for the current fiscal year.

Other hedge funds and institutional investors have added to or reduced their stakes in the company. Stephens Inc. AR raised its position in Freeport-McMoran Copper & Gold by 56.1% in the fourth quarter. Stephens Inc. AR now owns 231,622 shares of the natural resource company’s stock worth $1,568,000 after buying an additional 83,197 shares during the last quarter. Principal Financial Group Inc. raised its position in Freeport-McMoran Copper & Gold by 4.5% in the fourth quarter. Principal Financial Group Inc. now owns 1,643,884 shares of the natural resource company’s stock worth $11,129,000 after buying an additional 70,040 shares during the last quarter. Bank of Montreal Can raised 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 last quarter. Mutual of America Capital Management LLC raised its position in Freeport-McMoran Copper & Gold by 17.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 177,554 shares of the natural resource company’s stock worth $1,202,000 after buying an additional 26,751 shares during the last quarter. Finally, Gulf International Bank UK Ltd raised its position in Freeport-McMoran Copper & Gold by 4.1% in the fourth quarter. Gulf International Bank UK Ltd now owns 310,994 shares of the natural resource company’s stock worth $2,105,000 after buying an additional 12,350 shares during 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.

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