Freeport-McMoran Copper & Gold Inc. (NYSE:FCX) shares were 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.

FCX has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Freeport-McMoran Copper & Gold from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Tuesday, April 19th. FBR & Co reduced their price target on shares of Freeport-McMoran Copper & Gold from $11.00 to $9.00 and set a “mkt perform” rating on the stock in a research report on Wednesday. Cowen and Company increased their price target on shares of Freeport-McMoran Copper & Gold from $10.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, May 16th. HSBC reiterated a “buy” rating on shares of Freeport-McMoran Copper & Gold in a research report on Thursday, July 7th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $9.00 price target (up previously from $6.00) on shares of Freeport-McMoran Copper & Gold in a research report on Wednesday, March 23rd. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $12.70.

The firm’s market capitalization is $15.95 billion. The stock’s 50-day moving average price is $11.36 and its 200 day moving average price is $9.37.

Freeport-McMoran Copper & Gold (NYSE:FCX) last announced its quarterly earnings data on Tuesday, April 26th. The natural resource company reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.01. The business earned $3.53 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Freeport-McMoran Copper & Gold’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same period last year, the company posted ($0.06) EPS. On average, equities analysts anticipate that Freeport-McMoran Copper & Gold Inc. will post $0.55 EPS for the current fiscal year.

A number of hedge funds and institutional investors recently modified their holdings of FCX. Gulf International Bank UK Ltd raised its position in shares of 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 valued at $2,105,000 after buying an additional 12,350 shares during the period. Comerica Bank raised its position in shares of 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 valued at $1,852,000 after buying an additional 23,102 shares during the period. Mutual of America Capital Management LLC raised its position in shares of 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 valued at $1,202,000 after buying an additional 26,751 shares during the period. TD Asset Management Inc. raised its position in shares of Freeport-McMoran Copper & Gold by 4.6% in the fourth quarter. TD Asset Management Inc. now owns 642,045 shares of the natural resource company’s stock valued at $4,346,000 after buying an additional 28,141 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Freeport-McMoran Copper & Gold by 16.1% in the fourth quarter. ProShare Advisors LLC now owns 271,825 shares of the natural resource company’s stock valued at $1,840,000 after buying an additional 37,619 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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