Berenberg Bank reiterated their hold rating on shares of Freeport-McMoran Copper & Gold Inc. (NYSE:FCX) in a research note published on Sunday morning. They currently have a $10.00 target price on the natural resource company’s stock.

Several other equities analysts also recently weighed in on FCX. Jefferies Group raised Freeport-McMoran Copper & Gold from a hold rating to a buy rating and set a $15.00 price objective for the company in a research note on Thursday, May 26th. Macquarie lowered their target price on Freeport-McMoran Copper & Gold from $13.00 to $10.00 and set a neutral rating on the stock in a report on Wednesday. Deutsche Bank AG lowered their target price on Freeport-McMoran Copper & Gold from $12.50 to $12.00 and set a hold rating on the stock in a report on Tuesday, September 13th. FBR & Co lowered their target price on Freeport-McMoran Copper & Gold from $11.00 to $9.00 and set a mkt perform rating on the stock in a report on Wednesday, July 20th. Finally, Morgan Stanley cut Freeport-McMoran Copper & Gold from an equal weight rating to an underweight rating and lowered their target price for the company from $9.00 to $7.00 in a report on Wednesday. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $10.89.

Shares of Freeport-McMoran Copper & Gold (NYSE:FCX) opened at 9.94 on Friday. Freeport-McMoran Copper & Gold has a 12-month low of $3.52 and a 12-month high of $14.20. The stock’s market cap is $13.20 billion. The company has a 50 day moving average price of $11.63 and a 200 day moving average price of $11.11.

Freeport-McMoran Copper & Gold (NYSE:FCX) last released its quarterly earnings data on Tuesday, July 26th. The natural resource company reported ($0.02) earnings per share for the quarter, missing the consensus estimate 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 period in the previous year, the business earned $0.14 earnings per share. The business’s revenue for the quarter was down 15.3% on a year-over-year basis. Analysts anticipate that Freeport-McMoran Copper & Gold will post $0.48 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stonebridge Capital Advisors LLC bought a new position in Freeport-McMoran Copper & Gold during the second quarter valued at approximately $114,000. Fox Run Management L.L.C. acquired a new stake in shares of Freeport-McMoran Copper & Gold during the second quarter worth about $115,000. M Holdings Securities Inc. acquired a new stake in shares of Freeport-McMoran Copper & Gold during the second quarter worth about $119,000. Silvercrest Asset Management Group LLC acquired a new stake in shares of Freeport-McMoran Copper & Gold during the first quarter worth about $120,000. Finally, Swarthmore Group Inc. acquired a new stake in shares of Freeport-McMoran Copper & Gold during the second quarter worth about $125,000. 67.77% of the stock is currently owned by institutional investors.

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.

5 Day Chart for NYSE:FCX

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