FBR & Co reissued their market perform rating on shares of Freeport-McMoran Copper & Gold Inc. (NYSE:FCX) in a research note published on Wednesday.

A number of other research firms have also weighed in on FCX. HSBC reiterated a buy rating on shares of Freeport-McMoran Copper & Gold in a research report on Thursday, July 7th. Barclays PLC lifted their price objective on shares of Freeport-McMoran Copper & Gold from $10.00 to $11.00 and gave the company an equal weight rating in a research report on Monday, August 8th. Vetr lowered shares of Freeport-McMoran Copper & Gold from a strong-buy rating to a buy rating and set a $14.27 price objective on the stock. in a research report on Tuesday, July 12th. Jefferies Group raised Freeport-McMoran Copper & Gold from a hold rating to a buy rating and raised their target price for the company from $12.50 to $15.00 in a report on Tuesday, May 17th. Finally, BMO Capital Markets set a $12.00 target price on Freeport-McMoran Copper & Gold and gave the company a hold rating in a report on Tuesday, September 13th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Freeport-McMoran Copper & Gold has a consensus rating of Hold and an average price target of $10.89.

Shares of Freeport-McMoran Copper & Gold (NYSE:FCX) opened at 10.01 on Wednesday. The stock’s market cap is $13.30 billion. Freeport-McMoran Copper & Gold has a one year low of $3.52 and a one year high of $14.20. The company has a 50 day moving average of $11.29 and a 200-day moving average of $11.16.

Freeport-McMoran Copper & Gold (NYSE:FCX) last posted its quarterly earnings data on Tuesday, July 26th. The natural resource company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.01. Freeport-McMoran Copper & Gold had a negative net margin of 87.70% and a negative return on equity of 3.68%. The firm earned $3.33 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the business earned $0.14 earnings per share. The business’s quarterly revenue was down 15.3% on a year-over-year basis. On average, analysts anticipate that Freeport-McMoran Copper & Gold will post $0.48 earnings per share for the current year.

Several large investors have recently bought and sold shares of FCX. Stonebridge Capital Advisors LLC purchased a new stake in Freeport-McMoran Copper & Gold during the second quarter valued at about $114,000. Fox Run Management L.L.C. purchased a new stake in Freeport-McMoran Copper & Gold during the second quarter valued at about $115,000. M Holdings Securities Inc. purchased a new stake in Freeport-McMoran Copper & Gold during the second quarter valued at about $119,000. Silvercrest Asset Management Group LLC purchased a new stake in Freeport-McMoran Copper & Gold during the first quarter valued at about $120,000. Finally, Swarthmore Group Inc. purchased a new stake in Freeport-McMoran Copper & Gold during the second quarter valued at about $125,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

About Freeport-McMoran Copper & Gold

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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