Shares of Freeport-McMoran Copper & Gold Inc. (NYSE:FCX) saw unusually-high trading volume on Wednesday . Approximately 22,804,588 shares changed hands during trading, a decline of 5% from the previous session’s volume of 24,009,884 shares.The stock last traded at $11.34 and had previously closed at $11.98.

A number of equities analysts recently issued reports on FCX shares. Jefferies Group restated a “buy” rating and set a $15.00 price objective on shares of Freeport-McMoran Copper & Gold in a report on Thursday, July 14th. FBR & Co restated a “market perform” rating and set a $9.00 price objective on shares of Freeport-McMoran Copper & Gold in a report on Tuesday, May 10th. Goldman Sachs Group Inc. started coverage on Freeport-McMoran Copper & Gold in a report on Thursday, May 19th. They set a “neutral” rating and a $12.00 price objective for the company. Cowen and Company boosted their price objective on Freeport-McMoran Copper & Gold from $10.00 to $15.00 and gave the company an “outperform” rating in a report on Monday, May 16th. Finally, Vetr upgraded Freeport-McMoran Copper & Gold from a “buy” rating to a “strong-buy” rating and set a $14.27 price objective for the company in a report on Tuesday, July 19th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $11.19.

The firm’s 50-day moving average price is $12.24 and its 200 day moving average price is $10.69. The stock’s market cap is $14.72 billion.

Freeport-McMoran Copper & Gold (NYSE:FCX) last issued its quarterly 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 analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the business earned $0.14 EPS. The firm’s revenue for the quarter was down 15.3% compared to the same quarter last year. On average, equities research analysts anticipate that Freeport-McMoran Copper & Gold Inc. will post $0.48 EPS for the current fiscal year.

Other institutional investors have added to or reduced their stakes in the company. Mutual of America Capital Management LLC boosted 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 valued at $1,202,000 after buying an additional 26,751 shares during the last quarter. Utah Retirement Systems boosted its position in 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 during the last quarter. Stephens Inc. AR boosted 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 valued at $1,568,000 after buying an additional 83,197 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in 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. Finally, Principal Financial Group Inc. boosted 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 valued at $11,129,000 after buying an additional 70,040 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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