Freeport-McMoran Copper & Gold Inc. (NYSE:FCX) had its price objective trimmed by Macquarie from $13.00 to $10.00 in a research report sent to investors on Wednesday. The firm currently has a neutral rating on the natural resource company’s stock.

Other analysts also recently issued reports about the company. Jefferies Group upgraded Freeport-McMoran Copper & Gold from a hold rating to a buy rating and increased their price target for the stock from $12.50 to $15.00 in a report on Tuesday, May 17th. Goldman Sachs Group Inc. initiated coverage on Freeport-McMoran Copper & Gold in a report on Thursday, May 19th. They set a neutral rating and a $12.00 price target for the company. Zacks Investment Research downgraded Freeport-McMoran Copper & Gold from a buy rating to a hold rating in a report on Monday, May 30th. HSBC reiterated a buy rating on shares of Freeport-McMoran Copper & Gold in a report on Thursday, July 7th. Finally, Vetr downgraded Freeport-McMoran Copper & Gold from a strong-buy rating to a buy rating and set a $14.27 price target for the company. in a report on Tuesday, July 12th. Three investment 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 company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $10.89.

Shares of Freeport-McMoran Copper & Gold (NYSE:FCX) opened at 10.01 on Wednesday. The company’s market cap is $13.30 billion. Freeport-McMoran Copper & Gold has a 12-month low of $3.52 and a 12-month high of $14.20. The company’s 50-day moving average price is $11.29 and its 200 day moving average price is $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 the Zacks’ consensus estimate of ($0.01) by $0.01. The company earned $3.33 billion during the quarter, compared to analyst estimates of $3.70 billion. Freeport-McMoran Copper & Gold had a negative net margin of 87.70% and a negative return on equity of 3.68%. The business’s revenue for the quarter was down 15.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 earnings per share. Equities analysts predict that Freeport-McMoran Copper & Gold will post $0.48 earnings per share for the current year.

Several large investors have recently modified their holdings of the company. Stonebridge Capital Advisors LLC bought a new stake in shares of Freeport-McMoran Copper & Gold during the second quarter valued at about $114,000. Fox Run Management L.L.C. bought a new stake in shares of Freeport-McMoran Copper & Gold during the second quarter valued at about $115,000. M Holdings Securities Inc. bought a new stake in shares of Freeport-McMoran Copper & Gold during the second quarter valued at about $119,000. Silvercrest Asset Management Group LLC bought a new stake in shares of Freeport-McMoran Copper & Gold during the first quarter valued at about $120,000. Finally, Swarthmore Group Inc. bought a new stake in shares of Freeport-McMoran Copper & Gold during the second quarter valued at about $125,000. Institutional investors own 67.77% of the company’s stock.

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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