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

A number of analysts recently issued reports on FCX shares. 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. Vetr raised Freeport-McMoran Copper & Gold from a “hold” rating to a “buy” rating and set a $9.77 price target for the company in a research report on Wednesday, April 6th. Barclays PLC reaffirmed a “hold” rating on shares of Freeport-McMoran Copper & Gold in a research report on Tuesday, May 3rd. FBR & Co reduced their price target on Freeport-McMoran Copper & Gold from $11.00 to $9.00 and set a “mkt perform” rating for the company in a research report on Wednesday, July 20th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $15.00 price target on shares of Freeport-McMoran Copper & Gold in a research report on Thursday, July 14th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Freeport-McMoran Copper & Gold currently has an average rating of “Hold” and an average target price of $12.78.

The stock has a 50-day moving average of $11.63 and a 200-day moving average of $9.64. The stock’s market cap is $17.20 billion.

Freeport-McMoran Copper & Gold (NYSE:FCX) last issued its quarterly earnings data on Tuesday, July 26th. The natural resource company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.01. The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the previous year, the business earned $0.14 EPS. The firm’s revenue was down 15.3% on a year-over-year basis. On average, analysts expect that Freeport-McMoran Copper & Gold Inc. will post $0.58 earnings per share for the current year.

Other large investors recently modified their holdings of the company. Mutual of America Capital Management LLC increased its stake 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 boosted 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 in the last quarter. Stephens Inc. AR boosted 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 in the last quarter. Gulf International Bank UK Ltd boosted 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 in the last quarter. Finally, Comerica Bank boosted 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 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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