Freeport-McMoRan Copper & Gold Given New $45.00 Price Target at Barclays (FCX)
Analysts at Barclays boosted their price target on shares of Freeport-McMoRan Copper & Gold (NYSE:FCX) from $40.00 to $45.00 in a research report issued to clients and investors on Wednesday, AnalystRatingsNetwork reports. The firm currently has an “overweight” rating on the stock. Barclays’ price objective would indicate a potential upside of 23.76% from the stock’s previous close.
Shares of Freeport-McMoRan Copper & Gold (NYSE:FCX) traded up 0.58% on Wednesday, hitting $36.57. 10,292,678 shares of the company’s stock traded hands. 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 $30.74 and a 200-day moving average of $30.65. The company has a market cap of $37.955 billion and a price-to-earnings ratio of 12.95. Freeport-McMoRan Copper & Gold also was the target of some unusual options trading activity on Monday. Stock traders bought 19,803 put options on the stock. This represents an increase of 103% compared to the average volume of 9,756 put options.
Freeport-McMoRan Copper & Gold (NYSE:FCX) last announced its earnings results on Tuesday, October 22nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.17. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The company’s revenue for the quarter was up 39.6% 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 3.44%. The ex-dividend date is Thursday, October 10th.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Freeport-McMoRan Copper & Gold to $41.00 in a research note to investors on Wednesday. They now have an “overweight” rating on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Freeport-McMoRan Copper & Gold in a research note to investors on Wednesday. They now have a $45.00 price target on the stock, up previously from $40.00. Finally, 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, October 18th. They now have a “sector perform” rating on the stock. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $37.93.
Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) is an international mining company.
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