Freeport McMoRan Copper and Gold Given “Neutral” Rating at Macquarie (FCX)

Freeport McMoRan Copper and Gold (NYSE: FCX)‘s stock had its “neutral” rating reaffirmed by research analysts at Macquarie in a report released on Thursday. They currently have a $41.00 target price on the stock.

Freeport McMoRan Copper and Gold traded up 0.73% on Thursday, hitting $33.08. Freeport McMoRan Copper and Gold has a 1-year low of $30.54 and a 1-year high of $43.65. The stock’s 50-day moving average is currently $34.06. The company has a market cap of $31.410 billion and a price-to-earnings ratio of 10.29.

Freeport McMoRan Copper and Gold last announced its earnings results on Tuesday, January 22nd. The company reported $0.74 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.72 by $0.02. The company had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts expect that Freeport McMoRan Copper and Gold will post $4.42 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America upgraded shares of Freeport McMoRan Copper and Gold from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Freeport McMoRan Copper and Gold in a research note to investors on Tuesday, January 29th. They now have a $36.00 price target on the stock. Finally, analysts at BB&T reiterated a “buy” rating on shares of Freeport McMoRan Copper and Gold in a research note to investors on Monday, January 28th. They now have a $44.00 price target on the stock.

Nine analysts have rated the stock with a buy rating, one has given an overweight rating, eight have assigned a hold rating, and one has assigned an underweight rating to the stock. The stock presently has a consensus rating of “overweight” and a consensus price target of $41.38.

Freeport-McMoRan Copper & Gold Inc. (FCX) is an international mining company. FCX is one of the copper, gold and molybdenum mining companies in terms of reserves and production.

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