Shares of Freeport-McMoran Copper & Gold Inc. (NYSE:FCX) were down 2.7% during mid-day trading on Tuesday . The stock traded as low as $10.65 and last traded at $10.68, with a volume of 14,023,361 shares traded. The stock had previously closed at $10.98.

Several analysts have issued reports on FCX shares. 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. 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 on the stock in a research report on Monday, May 2nd. Vetr raised shares of 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. FBR & Co reaffirmed a “market perform” rating and set a $9.00 target price on shares of Freeport-McMoran Copper & Gold in a research report on Tuesday, May 10th. Finally, Cowen and Company raised their target price on shares of Freeport-McMoran Copper & Gold from $10.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, May 16th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $11.19.

The firm’s market capitalization is $14.03 billion. The stock’s 50-day moving average price is $12.23 and its 200-day moving average price is $10.90.

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 for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.01. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Freeport-McMoran Copper & Gold’s revenue for the quarter was down 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.14 EPS. Analysts anticipate that Freeport-McMoran Copper & Gold Inc. will post $0.48 EPS for the current fiscal year.

Other hedge funds have recently added to or reduced their stakes in the company. Utah Retirement Systems boosted its stake 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 period. Principal Financial Group Inc. boosted its stake 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 period. Finally, Ameriprise Financial Inc. boosted its stake 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.

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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