Private Advisor Group LLC reduced its stake in shares of Freeport-McMoran Copper & Gold Inc. (NYSE:FCX) by 34.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 36,108 shares of the natural resource company’s stock after selling 19,265 shares during the period. Private Advisor Group LLC’s holdings in Freeport-McMoran Copper & Gold were worth $400,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. State Street Corp boosted its stake in Freeport-McMoran Copper & Gold by 9.0% in the first quarter. State Street Corp now owns 56,340,333 shares of the natural resource company’s stock valued at $582,563,000 after buying an additional 4,668,125 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Freeport-McMoran Copper & Gold by 11.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 32,861,393 shares of the natural resource company’s stock valued at $339,787,000 after buying an additional 3,243,259 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Freeport-McMoran Copper & Gold by 7.5% in the first quarter. BlackRock Fund Advisors now owns 20,658,964 shares of the natural resource company’s stock valued at $213,614,000 after buying an additional 1,444,585 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Freeport-McMoran Copper & Gold by 125.7% in the second quarter. Dimensional Fund Advisors LP now owns 14,027,580 shares of the natural resource company’s stock valued at $156,242,000 after buying an additional 7,812,975 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Freeport-McMoran Copper & Gold by 11.3% in the first quarter. Geode Capital Management LLC now owns 10,230,429 shares of the natural resource company’s stock valued at $105,573,000 after buying an additional 1,034,663 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Shares of Freeport-McMoran Copper & Gold Inc. (NYSE:FCX) traded up 0.90% on Tuesday, reaching $10.10. 10,059,500 shares of the company’s stock were exchanged. The stock’s market cap is $13.42 billion. Freeport-McMoran Copper & Gold Inc. has a 52-week low of $3.52 and a 52-week 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 issued 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 company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the business posted $0.14 earnings per share. Freeport-McMoran Copper & Gold’s revenue was down 15.3% on a year-over-year basis. Equities analysts forecast that Freeport-McMoran Copper & Gold Inc. will post $0.48 EPS for the current fiscal year.

FCX has been the subject of several research reports. HSBC restated a “buy” rating on shares of Freeport-McMoran Copper & Gold in a research report on Thursday, July 7th. FBR & Co restated a “market perform” rating on shares of Freeport-McMoran Copper & Gold in a research report on Wednesday, September 14th. Barclays PLC raised 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 cut shares of Freeport-McMoran Copper & Gold from a “strong-buy” rating to a “buy” rating and set a $14.27 price objective for the company. in a research report on Tuesday, July 12th. Finally, BMO Capital Markets set a $12.00 price objective on shares of Freeport-McMoran Copper & Gold and gave the company a “hold” rating in a research report on Tuesday, September 13th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $10.89.

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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