Investors purchased shares of Freeport-McMoran Copper & Gold Inc. (NYSE:FCX) on weakness during trading on Friday. $60.90 million flowed into the stock on the tick-up and $52.09 million flowed out of the stock on the tick-down, for a money net flow of $8.81 million into the stock. Of all stocks tracked, Freeport-McMoran Copper & Gold had the 14th highest net in-flow for the day. Freeport-McMoran Copper & Gold traded down ($0.20) for the day and closed at $10.89

A number of brokerages recently weighed in on FCX. Barclays PLC reduced their target price on shares of Freeport-McMoran Copper & Gold from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday, May 2nd. Macquarie restated a “neutral” rating and set a $10.00 target price on shares of Freeport-McMoran Copper & Gold in a report on Tuesday, June 21st. Vetr upgraded shares of Freeport-McMoran Copper & Gold from a “sell” rating to a “buy” rating and set a $14.78 target price for the company in a report on Monday, May 2nd. Deutsche Bank AG raised their price objective on shares of Freeport-McMoran Copper & Gold from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Monday, May 2nd. Finally, Morgan Stanley reaffirmed a “hold” rating and issued a $9.00 price objective on shares of Freeport-McMoran Copper & Gold in a research note on Tuesday, August 16th. 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 assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $11.19.

The stock has a 50-day moving average of $12.27 and a 200-day moving average of $10.73. The company’s market cap is $14.46 billion.

Freeport-McMoran Copper & Gold (NYSE:FCX) last released its quarterly earnings results on Tuesday, July 26th. The natural resource company reported ($0.02) earnings per share 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 for the quarter was down 15.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 EPS. Analysts forecast that Freeport-McMoran Copper & Gold Inc. will post $0.48 earnings per share for the current year.

Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its position in Freeport-McMoran Copper & Gold by 15.9% in the fourth quarter. Ameriprise Financial Inc. now owns 7,066,435 shares of the natural resource company’s stock valued at $47,837,000 after buying an additional 970,407 shares during the period. Utah Retirement Systems boosted its position 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. 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. Finally, 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.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.