Freeport-McMoRan Copper & Gold PT Raised to $38.00 (FCX)
Investment analysts at FBR Capital Markets upped their price objective on shares of Freeport-McMoRan Copper & Gold (NYSE:FCX) from $35.00 to $38.00 in a note issued to investors on Thursday, AnalystRatings.NET reports. The firm currently has an “outperform” rating on the stock. FBR Capital Markets’ price objective would suggest a potential upside of 14.35% from the stock’s previous close.
Shares of Freeport-McMoRan Copper & Gold (NYSE:FCX) traded up 2.03% on Thursday, hitting $33.23. The stock had a trading volume of 10,173,367 shares. Freeport-McMoRan Copper & Gold has a 1-year low of $26.37 and a 1-year high of $42.89. The stock has a 50-day moving average of $32.50 and a 200-day moving average of $30.74. The company has a market cap of $34.489 billion and a price-to-earnings ratio of 11.60. Freeport-McMoRan Copper & Gold also was the recipient of unusually large options trading on Wednesday. Stock investors bought 52,487 call options on the stock. This is an increase of 127% compared to the typical volume of 23,130 call options.
Freeport-McMoRan Copper & Gold (NYSE:FCX) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.49 earnings per share (EPS) for the quarter, beating the 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. On average, analysts predict that Freeport-McMoRan Copper & Gold will post $2.44 earnings per share 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 3.76%. The ex-dividend date is Thursday, October 10th.
A number of other firms have also recently commented on FCX. Analysts at Credit Suisse raised their price target on shares of Freeport-McMoRan Copper & Gold from $38.00 to $39.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Freeport-McMoRan Copper & Gold in a research note to investors on Tuesday. Finally, 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. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $37.50.
Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) is an international mining company.
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