Freeport-McMoRan Copper & Gold Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:FCX)
Freeport-McMoRan Copper & Gold (NYSE:FCX) has received a consensus rating of “Buy” from the nineteen analysts that are presently covering the stock, American Banking News.com reports. Four investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $39.89.
Freeport-McMoRan Copper & Gold (NYSE:FCX) traded down 0.13% during mid-day trading on Monday, hitting $38.66. The stock had a trading volume of 1,326,498 shares. Freeport-McMoRan Copper & Gold has a 52 week low of $27.89 and a 52 week high of $39.32. The stock’s 50-day moving average is $35.55 and its 200-day moving average is $34.16. The company has a market cap of $40.157 billion and a P/E ratio of 15.81.
Freeport-McMoRan Copper & Gold (NYSE:FCX) last released its earnings data on Thursday, April 24th. The company reported $0.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.43 by $0.06. The company had revenue of $4.99 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter last year, the company posted $0.68 earnings per share. Freeport-McMoRan Copper & Gold’s revenue was up 8.8% compared to the same quarter last year. Analysts expect that Freeport-McMoRan Copper & Gold will post $2.44 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 1st. Stockholders of record on Tuesday, July 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 3.23%. The ex-dividend date of this dividend is Friday, July 11th.
A number of analysts have recently weighed in on FCX shares. Analysts at HSBC initiated coverage on shares of Freeport-McMoRan Copper & Gold in a research note on Thursday. They set an “overweight” rating and a $44.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Freeport-McMoRan Copper & Gold in a research note on Monday, July 7th. They now have a $45.00 price target on the stock, up previously from $40.00. Finally, analysts at FBR Capital Markets cut their price target on shares of Freeport-McMoRan Copper & Gold from $40.00 to $38.00 in a research note on Wednesday, July 2nd.
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.