Stock Traders Purchase Large Volume of Freeport-McMoRan Copper & Gold Call Options (FCX)
Freeport-McMoRan Copper & Gold (NYSE:FCX) was the target of unusually large options trading activity on Friday. Stock investors acquired 202,793 call options on the company, American Banking News.com reports. This represents an increase of approximately 734% compared to the typical volume of 24,303 call options.
FCX has been the subject of a number of recent research reports. Analysts at Sanford C. Bernstein initiated coverage on shares of Freeport-McMoRan Copper & Gold in a research note to investors on Thursday, December 12th. They set an “outperform” rating and a $42.00 price target on the stock. Separately, analysts at Nomura raised their price target on shares of Freeport-McMoRan Copper & Gold from $38.00 to $45.00 in a research note to investors on Wednesday, December 11th. They now have a “buy” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. downgraded shares of Freeport-McMoRan Copper & Gold from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, November 26th. They now have a $37.00 price target on the stock, up previously from $36.00. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $39.13.
Shares of Freeport-McMoRan Copper & Gold (NYSE:FCX) traded up 1.29% during mid-day trading on Friday, hitting $36.17. 9,789,959 shares of the company’s stock traded hands. Freeport-McMoRan Copper & Gold has a 52 week low of $26.37 and a 52 week high of $38.09. The stock’s 50-day moving average is $35.6 and its 200-day moving average is $32.95. The company has a market cap of $37.550 billion and a price-to-earnings ratio of 13.05.
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 $2.56 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be paid a dividend of 0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Monday, January 13th.
Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) is an international mining company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.