Investors purchased shares of Freeport-McMoran Copper & Gold Inc. (NYSE:FCX) on weakness during trading on Friday. $152.23 million flowed into the stock on the tick-up and $66.45 million flowed out of the stock on the tick-down, for a money net flow of $85.78 million into the stock. Of all stocks tracked, Freeport-McMoran Copper & Gold had the highest net in-flow for the day. Freeport-McMoran Copper & Gold traded down ($0.09) for the day and closed at $12.23

Several research firms have issued reports on FCX. Vetr raised shares of Freeport-McMoran Copper & Gold from a “buy” rating to a “strong-buy” rating and set a $14.36 price objective on the stock in a report on Tuesday, August 2nd. Berenberg Bank reaffirmed a “hold” rating and set a $11.00 price objective on shares of Freeport-McMoran Copper & Gold in a report on Thursday, July 28th. BMO Capital Markets reaffirmed a “hold” rating on shares of Freeport-McMoran Copper & Gold in a report on Wednesday, July 27th. FBR & Co decreased their price objective on shares of Freeport-McMoran Copper & Gold from $11.00 to $9.00 and set a “mkt perform” rating on the stock in a report on Wednesday, July 20th. Finally, Jefferies Group reiterated a “buy” rating and issued a $15.00 target price on shares of Freeport-McMoran Copper & Gold in a research report on Thursday, July 14th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $12.79.

The firm’s market capitalization is $15.52 billion. The company’s 50-day moving average is $11.95 and its 200-day moving average is $9.95.

Freeport-McMoran Copper & Gold (NYSE:FCX) last released its quarterly earnings data on Tuesday, July 26th. The natural resource company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by $0.01. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the previous year, the company earned $0.14 EPS. The firm’s quarterly revenue was down 15.3% on a year-over-year basis. On average, equities research analysts expect that Freeport-McMoran Copper & Gold Inc. will post $0.48 EPS for the current year.

Several large investors have added to or reduced their stakes in FCX. Comerica Bank raised its stake in 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. 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 period. 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 period. 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 period. Finally, 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 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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