Freeport-McMoran Copper & Gold Inc. (NYSE:FCX) had its price target decreased by Macquarie from $13.00 to $10.00 in a report published on Wednesday. Macquarie currently has a neutral rating on the natural resource company’s stock.

FCX has been the topic of a number of other research reports. Jefferies Group upgraded shares of Freeport-McMoran Copper & Gold from a hold rating to a buy rating and upped their price objective for the stock from $12.50 to $15.00 in a report on Tuesday, May 17th. Goldman Sachs Group Inc. initiated coverage on shares of Freeport-McMoran Copper & Gold in a report on Thursday, May 19th. They issued a neutral rating and a $12.00 price objective on the stock. 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. 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 objective on the stock. in a report on Tuesday, July 12th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Hold and an average target price 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 52 week low of $3.52 and a 52 week high of $14.20. The stock’s 50 day moving average is $11.29 and its 200 day moving average is $11.16.

Freeport-McMoran Copper & Gold (NYSE:FCX) last announced its quarterly 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 company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the firm earned $0.14 EPS. Freeport-McMoran Copper & Gold’s quarterly revenue was down 15.3% compared to the same quarter last year. On average, equities analysts forecast that Freeport-McMoran Copper & Gold will post $0.48 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stonebridge Capital Advisors LLC acquired a new position in Freeport-McMoran Copper & Gold during the second quarter valued at $114,000. Fox Run Management L.L.C. acquired a new position in Freeport-McMoran Copper & Gold during the second quarter valued at $115,000. M Holdings Securities Inc. acquired a new position in Freeport-McMoran Copper & Gold during the second quarter valued at $119,000. Silvercrest Asset Management Group LLC acquired a new position in Freeport-McMoran Copper & Gold during the first quarter valued at $120,000. Finally, Swarthmore Group Inc. acquired a new position in Freeport-McMoran Copper & Gold during the second quarter valued at $125,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Freeport-McMoran Copper & Gold Company Profile

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

Receive News & Ratings for Freeport-McMoran Copper & Gold Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoran Copper & Gold Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.