Freeport-McMoran Copper & Gold Inc. (NYSE:FCX) was up 2.8% during mid-day trading on Wednesday . The stock traded as high as $13.59 and last traded at $13.03, with a volume of 37,517,598 shares changing hands. The stock had previously closed at $12.68.

A number of equities research analysts have recently weighed in on the company. Credit Agricole SA downgraded Freeport-McMoran Copper & Gold from an “underperform” rating to a “sell” rating in a report on Tuesday, April 19th. Vetr raised Freeport-McMoran Copper & Gold from a “sell” rating to a “buy” rating and set a $11.90 target price for the company in a report on Thursday, April 14th. Jefferies Group reissued a “buy” rating and set a $15.00 target price on shares of Freeport-McMoran Copper & Gold in a report on Thursday, July 14th. FBR & Co reissued a “market perform” rating and set a $9.00 target price on shares of Freeport-McMoran Copper & Gold in a report on Tuesday, May 10th. Finally, Zacks Investment Research raised Freeport-McMoran Copper & Gold from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Tuesday, April 19th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $12.60.

The firm’s market cap is $16.35 billion. The stock’s 50-day moving average is $11.54 and its 200 day moving average is $9.59.

Freeport-McMoran Copper & Gold (NYSE:FCX) last released its quarterly earnings results on Tuesday, July 26th. The natural resource company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by $0.01. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The business earned $3.33 billion during the quarter, compared to analysts’ expectations of $3.70 billion. The firm’s quarterly revenue was down 15.3% on a year-over-year basis. On average, equities research analysts anticipate that Freeport-McMoran Copper & Gold Inc. will post $0.55 EPS for the current year.

Several institutional investors have recently made changes to their positions in FCX. 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. Utah Retirement Systems raised its position in shares of Freeport-McMoran Copper & Gold by 2.0% in the fourth quarter. Utah Retirement Systems now owns 203,726 shares of the natural resource company’s stock valued at $1,379,000 after buying an additional 4,000 shares during the period. Stephens Inc. AR raised its position in shares of 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 valued at $1,568,000 after buying an additional 83,197 shares during the period. 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. Finally, 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.

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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