Freeport-McMoRan Copper & Gold (NYSE:FCX)‘s stock had its “buy” rating reaffirmed by investment analysts at Goldman Sachs Group Inc. in a note issued to investors on Tuesday, Stock Ratings Network.com reports.
A number of other analysts have also recently weighed in on FCX. Analysts at Morgan Stanley cut their price target on shares of Freeport-McMoRan Copper & Gold from $43.00 to $41.00 in a research note to investors on Monday. They now have an “overweight” rating on the stock. Separately, analysts at Wellington Shields initiated coverage on shares of Freeport-McMoRan Copper & Gold in a research note to investors on Thursday, October 3rd. They set a “buy” rating and a $41.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Freeport-McMoRan Copper & Gold in a research note to investors on Wednesday, October 2nd. They now have a $38.00 price target on the stock, up previously from $35.00. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Freeport-McMoRan Copper & Gold presently has an average rating of “Buy” and an average price target of $37.61.
Shares of Freeport-McMoRan Copper & Gold (NYSE:FCX) traded down 0.72% during mid-day trading on Tuesday, hitting $33.21. The stock had a trading volume of 2,540,838 shares. Freeport-McMoRan Copper & Gold has a 52 week low of $26.37 and a 52 week high of $42.89. The stock’s 50-day moving average is $32.39 and its 200-day moving average is $30.72. The company has a market cap of $34.468 billion and a P/E ratio of 11.92.
Freeport-McMoRan Copper & Gold (NYSE:FCX) last released its earnings data on Tuesday, July 23rd. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.41 by $0.08. The company had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis. Analysts expect that Freeport-McMoRan Copper & Gold will post $2.47 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 1st. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.31 per share. This represents a $1.25 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Thursday, October 10th.
Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) is an international mining company.
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