Freeport-McMoRan Copper & Gold Price Target Increased to $36.00 by Analysts at RBC Capital (FCX)
Investment analysts at RBC Capital increased their price target on shares of Freeport-McMoRan Copper & Gold (NYSE:FCX) from $35.00 to $36.00 in a note issued to investors on Friday, Analyst Ratings Network reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price target points to a potential upside of 3.18% from the company’s current price.
A number of other analysts have also recently weighed in on FCX. Analysts at Credit Suisse reiterated a “buy” rating on shares of Freeport-McMoRan Copper & Gold in a research note to investors on Thursday. They now have a $39.00 price target on the stock. Separately, analysts at BB&T Corp. raised their price target on shares of Freeport-McMoRan Copper & Gold from $36.00 to $38.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Freeport-McMoRan Copper & Gold from $35.00 to $38.00 in a research note to investors on Thursday, October 10th. They now have an “outperform” rating on the stock. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Freeport-McMoRan Copper & Gold presently has an average rating of “Buy” and an average target price of $37.66.
Freeport-McMoRan Copper & Gold (NYSE:FCX) traded up 0.52% on Friday, hitting $34.89. The stock had a trading volume of 15,430,723 shares. Freeport-McMoRan Copper & Gold has a 52 week low of $26.37 and a 52 week high of $41.20. The stock has a 50-day moving average of $33.07 and a 200-day moving average of $30.80. The company has a market cap of $36.212 billion and a P/E ratio of 12.37. Freeport-McMoRan Copper & Gold also saw some unusual options trading activity on Friday. Stock investors purchased 45,728 call options on the stock. This is an increase of 180% compared to the typical daily volume of 16,323 call options.
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 previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. Analysts expect that Freeport-McMoRan Copper & Gold will post $2.39 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 3.58%. The ex-dividend date is Thursday, October 10th.
Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) is an international mining company.
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