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

A number of equities analysts have commented on FCX shares. Cowen and Company boosted their price objective on Freeport-McMoran Copper & Gold from $10.00 to $15.00 and gave the stock an “outperform” rating in a research note on Monday, May 16th. HSBC reissued a “buy” rating on shares of Freeport-McMoran Copper & Gold in a research note on Thursday, July 7th. Barclays PLC boosted their price objective on Freeport-McMoran Copper & Gold from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Monday, August 8th. Vetr lowered Freeport-McMoran Copper & Gold from a “strong-buy” rating to a “buy” rating and set a $14.27 price objective on the stock. in a research note on Tuesday, July 12th. Finally, Jefferies Group raised Freeport-McMoran Copper & Gold from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $12.50 to $15.00 in a research note on Tuesday, May 17th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $11.19.

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

Freeport-McMoran Copper & Gold (NYSE:FCX) last announced its earnings results on Tuesday, July 26th. The natural resource company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.01. The business earned $3.33 billion during the quarter, compared to analysts’ expectations of $3.70 billion. The company’s revenue for the quarter was down 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.14 earnings per share. Equities analysts anticipate that Freeport-McMoran Copper & Gold Inc. will post $0.48 EPS for the current fiscal year.

A number of hedge funds and institutional investors recently made changes to their positions in FCX. Stephens Inc. AR increased 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 increased 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. Principal Financial Group Inc. increased 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. Mutual of America Capital Management LLC increased 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. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Freeport-McMoran Copper & Gold by 21.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 781,500 shares of the natural resource company’s stock valued at $5,291,000 after buying an additional 139,775 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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