Freeport-McMoran Copper & Gold Inc. (NYSE:FCX)’s share price traded down 3.1% during mid-day trading on Friday . The company traded as low as $11.74 and last traded at $11.74, with a volume of 17,337,282 shares traded. The stock had previously closed at $12.11.

A number of equities research analysts recently weighed in on the stock. Deutsche Bank AG upped their target price on shares of Freeport-McMoran Copper & Gold from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Monday, May 2nd. Barclays PLC restated a “hold” rating on shares of Freeport-McMoran Copper & Gold in a report on Tuesday, May 3rd. Zacks Investment Research upgraded shares of Freeport-McMoran Copper & Gold from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Tuesday, April 19th. Jefferies Group restated a “hold” rating and issued a $11.00 target price (up previously from $10.00) on shares of Freeport-McMoran Copper & Gold in a report on Wednesday, April 27th. Finally, FBR & Co restated a “hold” rating and issued a $8.00 target price on shares of Freeport-McMoran Copper & Gold in a report on Wednesday, April 27th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $12.89.

The stock has a 50 day moving average price of $12.03 and a 200-day moving average price of $10.24. The company’s market capitalization is $15.70 billion.

Freeport-McMoran Copper & Gold (NYSE:FCX) last released its quarterly earnings data 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. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.70 billion. The firm’s revenue was down 15.3% compared to the same quarter last year. During the same period last year, the firm earned $0.14 earnings per share. On average, analysts predict that Freeport-McMoran Copper & Gold Inc. will post $0.48 earnings per share for the current fiscal year.

Other hedge funds have made changes to their positions in the company. Mutual of America Capital Management LLC boosted 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 worth $1,202,000 after buying an additional 26,751 shares in the last quarter. Utah Retirement Systems boosted its stake 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 worth $1,379,000 after buying an additional 4,000 shares in the last quarter. Stephens Inc. AR boosted its stake 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 worth $1,568,000 after buying an additional 83,197 shares in the last quarter. Employees Retirement System of Texas boosted its stake in shares of Freeport-McMoran Copper & Gold by 1,055.6% in the fourth quarter. Employees Retirement System of Texas now owns 797,397 shares of the natural resource company’s stock worth $5,398,000 after buying an additional 728,397 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of 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 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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