Freeport-McMoRan Copper & Gold PT Raised to $41.00 (FCX)
Research analysts at JPMorgan Chase & Co. boosted their target price on shares of Freeport-McMoRan Copper & Gold (NYSE:FCX) to $41.00 in a report released on Wednesday, AnalystRatings.NET reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target would suggest a potential upside of 12.76% from the stock’s previous close.
Freeport-McMoRan Copper & Gold (NYSE:FCX) traded up 0.39% on Wednesday, hitting $36.50. The stock had a trading volume of 8,863,484 shares. Freeport-McMoRan Copper & Gold has a 52 week low of $26.37 and a 52 week 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 $37.883 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. Investors bought 19,803 put options on the stock. This represents an increase of 103% compared to the average daily 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 last year, the company posted $0.86 earnings per share. Freeport-McMoRan Copper & Gold’s revenue was up 39.6% compared to the same quarter last year. Analysts expect that Freeport-McMoRan Copper & Gold will post $2.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 1st. Investors 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 3.44%. The ex-dividend date of this dividend is Thursday, October 10th.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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. Finally, analysts at Credit Suisse reiterated a “buy” rating on shares of Freeport-McMoRan Copper & Gold in a research note to investors on Thursday, October 17th. They now have a $39.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $37.55.
Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) is an international mining company.
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