Freeport-McMoRan Copper & Gold’s Buy Rating Reaffirmed at Goldman Sachs Group Inc. (FCX)
Freeport-McMoRan Copper & Gold (NYSE:FCX)‘s stock had its “buy” rating reaffirmed by equities research analysts at Goldman Sachs Group Inc. in a research note issued to investors on Tuesday, StockRatingsNetwork reports.
Other equities research analysts have also recently issued reports about the stock. 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. Freeport-McMoRan Copper & Gold has an average rating of “Buy” and a consensus price target of $37.61.
Shares of Freeport-McMoRan Copper & Gold (NYSE:FCX) traded down 1.43% on Tuesday, hitting $32.97. 4,996,856 shares of the company’s stock traded hands. Freeport-McMoRan Copper & Gold has a one year low of $26.37 and a one year high of $42.89. The stock has a 50-day moving average of $32.39 and a 200-day moving average of $30.72. The company has a market cap of $34.219 billion and a price-to-earnings ratio of 11.92.
Freeport-McMoRan Copper & Gold (NYSE:FCX) last released its earnings data on Tuesday, July 23rd. The company reported $0.49 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.74 earnings per share. Freeport-McMoRan Copper & Gold’s revenue was down 4.2% compared to the same quarter last year. Analysts expect that Freeport-McMoRan Copper & Gold will post $2.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 1st. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.31 per share. This represents a $1.25 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Thursday, October 10th.
Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) is an international mining company.
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