Freeport-McMoran Copper & Gold Inc. (NYSE:FCX)’s share price was down 2.6% during mid-day trading on Friday . The stock traded as low as $11.89 and last traded at $11.91, with a volume of 11,739,877 shares trading hands. The stock had previously closed at $12.23.

Several equities research analysts have commented on FCX shares. Royal Bank Of Canada cut their target price on Freeport-McMoran Copper & Gold from $12.00 to $6.50 and set a “sector perform” rating on the stock in a research note on Monday, April 25th. HSBC restated a “buy” rating on shares of Freeport-McMoran Copper & Gold in a research note on Thursday, July 7th. Jefferies Group restated a “buy” rating and issued a $15.00 target price on shares of Freeport-McMoran Copper & Gold in a research note on Thursday, July 14th. Vetr upgraded Freeport-McMoran Copper & Gold from a “buy” rating to a “strong-buy” rating and set a $14.36 target price on the stock in a research note on Tuesday, August 2nd. Finally, Barclays PLC boosted their target price on Freeport-McMoran Copper & Gold from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Monday, August 8th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.19.

The stock has a 50 day moving average of $12.24 and a 200-day moving average of $10.51. The company’s market cap is $15.90 billion.

Freeport-McMoran Copper & Gold (NYSE:FCX) last announced its earnings results 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 company earned $3.33 billion during the quarter, compared to the consensus estimate of $3.70 billion. The firm’s revenue was down 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 earnings per share. On average, equities research analysts anticipate that Freeport-McMoran Copper & Gold Inc. will post $0.48 earnings per share for the current year.

Other hedge funds and institutional investors recently made changes to their positions in the company. Mutual of America Capital Management LLC boosted 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 last quarter. Principal Financial Group Inc. boosted its position 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 valued at $11,129,000 after buying an additional 70,040 shares during 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 during the last quarter. Employees Retirement System of Texas boosted its position 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 valued at $5,398,000 after buying an additional 728,397 shares during the last quarter. Finally, Poplar Forest Capital LLC boosted its position in shares of Freeport-McMoran Copper & Gold by 61.2% in the fourth quarter. Poplar Forest Capital LLC now owns 3,485,476 shares of the natural resource company’s stock valued at $23,597,000 after buying an additional 1,322,878 shares during 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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