Freeport-McMoran Copper & Gold Inc. (NYSE:FCX) shares saw strong trading volume on Wednesday . 22,804,588 shares were traded during mid-day 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 analysts recently issued reports on the company. Deutsche Bank AG lifted their target price on Freeport-McMoran Copper & Gold from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Monday, May 2nd. Barclays PLC lowered their target price on Freeport-McMoran Copper & Gold from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, May 2nd. Vetr raised Freeport-McMoran Copper & Gold from a “sell” rating to a “buy” rating and set a $14.78 target price on the stock in a research report on Monday, May 2nd. Berenberg Bank reaffirmed a “hold” rating and issued a $11.00 target price on shares of Freeport-McMoran Copper & Gold in a research report on Thursday, July 28th. Finally, Jefferies Group reaffirmed 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 investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $11.19.

The firm’s market capitalization is $15.22 billion. The firm has a 50 day moving average of $12.26 and a 200-day moving average of $10.69.

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 firm had revenue of $3.33 billion for 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 period in the prior year, the firm posted $0.14 EPS. On average, equities analysts anticipate that Freeport-McMoran Copper & Gold Inc. will post $0.48 EPS for the current fiscal year.

Several large investors recently modified their holdings of FCX. Stephens Inc. AR raised 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 valued at $1,568,000 after buying an additional 83,197 shares during the last quarter. Principal Financial Group Inc. raised 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 valued at $11,129,000 after buying an additional 70,040 shares during the last quarter. Finally, Utah Retirement Systems raised 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 valued at $1,379,000 after buying an additional 4,000 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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