Freeport-McMoRan Copper & Gold Stock Rating Reaffirmed by FBR Capital Markets (FCX)
Freeport-McMoRan Copper & Gold (NYSE:FCX)‘s stock had its “marketperform” rating reiterated by investment analysts at FBR Capital Markets in a note issued to investors on Tuesday, AnalystRatingsNetwork.com reports. They currently have a $40.00 price target on the stock. FBR Capital Markets’ price objective would indicate a potential upside of 12.26% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. 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 equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $39.13.
Freeport-McMoRan Copper & Gold (NYSE:FCX) traded up 0.80% during mid-day trading on Tuesday, hitting $35.915. 8,506,106 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 $38.09. The stock’s 50-day moving average is $35.58 and its 200-day moving average is $33.17. The company has a market cap of $37.285 billion and a price-to-earnings ratio of 13.02.
Freeport-McMoRan Copper & Gold (NYSE:FCX) last released its earnings data on Tuesday, October 22nd. The company reported $0.79 earnings per share for the quarter, beating the analysts’ 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 $2.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be given a dividend of 0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Monday, January 13th.
Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) is an international mining company.
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