Investors bought 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 equities 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

Several research firms recently commented on FCX. Barclays PLC cut 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 research note on Monday, May 2nd. Macquarie reiterated a “neutral” rating and set a $10.00 target price on shares of Freeport-McMoran Copper & Gold in a research note 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 research note on Monday, May 2nd. Deutsche Bank AG upped their target price on shares of Freeport-McMoran Copper & Gold from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Monday, May 2nd. Finally, Morgan Stanley reiterated a “hold” rating and set a $9.00 target price 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 issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $11.19.

The stock’s 50-day moving average is $12.27 and its 200 day moving average is $10.73. The firm’s market cap is $14.46 billion.

Freeport-McMoran Copper & Gold (NYSE:FCX) last posted its quarterly earnings results on Tuesday, July 26th. The natural resource company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.01. The company earned $3.33 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period in the previous year, the business posted $0.14 earnings per share. The firm’s quarterly revenue was down 15.3% compared to the same quarter last year. On average, equities research analysts expect that Freeport-McMoran Copper & Gold Inc. will post $0.48 earnings per share for the current fiscal year.

Other hedge funds and institutional investors recently bought and sold shares of the company. Principal Financial Group Inc. increased 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 worth $11,129,000 after buying an additional 70,040 shares during the period. Utah Retirement Systems increased 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 worth $1,379,000 after buying an additional 4,000 shares during the period. Finally, Ameriprise Financial Inc. increased 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 worth $47,837,000 after buying an additional 970,407 shares during the period.

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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