Freeport-McMoRan Copper & Gold Sees Unusually High Options Volume (FCX)
Shares of Freeport-McMoRan Copper & Gold (NYSE:FCX) was the recipient of some unusual options trading activity on Monday. Stock investors bought 19,803 put options on the company, AnalystRatings.Net reports. This is an increase of 103% compared to the typical daily volume of 9,756 put options.
FCX has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of Freeport-McMoRan Copper & Gold from $35.00 to $36.00 in a research note to investors on Friday. They now have a “sector perform” rating on the stock. Separately, 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. Finally, 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. Five research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Freeport-McMoRan Copper & Gold has a consensus rating of “Buy” and an average target price of $37.08.
Freeport-McMoRan Copper & Gold (NYSE:FCX) traded up 0.43% on Monday, hitting $35.04. The stock had a trading volume of 9,672,183 shares. Freeport-McMoRan Copper & Gold has a 52 week low of $26.37 and a 52 week high of $41.20. The stock’s 50-day moving average is $33.12 and its 200-day moving average is $30.83. The company has a market cap of $36.367 billion and a P/E ratio of 12.43.
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 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 $2.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 1st. Shareholders 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 3.57%. The ex-dividend date is Thursday, October 10th.
Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) is an international mining company.
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