Freeport-McMoran Copper & Gold Inc. (NYSE:FCX) shares traded down 4.7% during mid-day trading on Tuesday . The company traded as low as $12.50 and last traded at $12.52, with a volume of 17,686,296 shares traded. The stock had previously closed at $13.14.

A number of research analysts have issued reports on the company. Deutsche Bank AG boosted their price target on Freeport-McMoran Copper & Gold from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Monday, May 2nd. Barclays PLC reiterated a “hold” rating on shares of Freeport-McMoran Copper & Gold in a research report on Tuesday, May 3rd. Zacks Investment Research upgraded Freeport-McMoran Copper & Gold from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Tuesday, April 19th. Jefferies Group reissued a “hold” rating and issued a $11.00 price objective (up previously from $10.00) on shares of Freeport-McMoran Copper & Gold in a research note on Wednesday, April 27th. Finally, FBR & Co reissued a “hold” rating and issued a $8.00 price objective on shares of Freeport-McMoran Copper & Gold in a research note on Wednesday, April 27th. Three 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 stock. The stock presently has a consensus rating of “Hold” and an average target price of $12.60.

The company’s market capitalization is $15.59 billion. The stock has a 50 day moving average of $11.29 and a 200-day moving average of $9.33.

Freeport-McMoran Copper & Gold (NYSE:FCX) last posted its quarterly earnings results on Tuesday, April 26th. The natural resource company reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.01. The company earned $3.53 billion during the quarter, compared to the consensus estimate of $3.52 billion. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) earnings per share. Analysts expect that Freeport-McMoran Copper & Gold Inc. will post $0.55 earnings per share for the current year.

Several hedge funds and institutional investors recently bought and sold shares of the company. Vanguard Group Inc. raised its position 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 valued at $667,234,000 after buying an additional 22,244,887 shares in the last quarter. Thornburg Investment Management Inc. raised 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 valued at $75,096,000 after buying an additional 9,440,903 shares in 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 valued at $37,446,000 after buying an additional 5,195,795 shares in the last quarter. California Public Employees Retirement System raised its position in Freeport-McMoran Copper & Gold by 6.1% in the fourth quarter. California Public Employees Retirement System now owns 3,890,593 shares of the natural resource company’s stock valued at $26,339,000 after buying an additional 222,800 shares in the last quarter. Finally, 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 valued at $11,129,000 after buying an additional 70,040 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.

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