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

Several other equities analysts have also recently commented on FCX. Jefferies Group upgraded shares of Freeport-McMoran Copper & Gold from a hold rating to a buy rating and set a $15.00 price target on the stock in a report on Thursday, May 26th. Zacks Investment Research cut shares of Freeport-McMoran Copper & Gold from a buy rating to a hold rating in a report on Monday, May 30th. Macquarie restated a neutral rating and set a $10.00 price target on shares of Freeport-McMoran Copper & Gold in a report on Tuesday, June 21st. HSBC restated a buy rating on shares of Freeport-McMoran Copper & Gold in a report on Thursday, July 7th. Finally, Vetr cut shares of Freeport-McMoran Copper & Gold from a strong-buy rating to a buy rating and set a $14.27 price target on the stock. in a report on Tuesday, July 12th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average 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 50 day moving average price is $11.63 and its 200-day moving average price is $11.11. The stock’s market capitalization is $13.20 billion.

Freeport-McMoran Copper & Gold (NYSE:FCX) last announced its earnings results on Tuesday, July 26th. The natural resource company reported ($0.02) earnings per share (EPS) 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 had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period last year, the firm earned $0.14 earnings per share. Freeport-McMoran Copper & Gold’s revenue for the quarter was down 15.3% compared to the same quarter last year. Equities analysts forecast that Freeport-McMoran Copper & Gold will post $0.48 earnings per share for the current fiscal year.

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