Freeport McMoRan Copper and Gold (NYSE: FCX)‘s stock had its “neutral” rating reiterated by investment analysts at Citigroup (NYSE: C) in a note issued to investors on Monday.
Separately, analysts at Goldman Sachs (NYSE: GS) reiterated a “buy” rating on shares of Freeport McMoRan Copper and Gold in a research note to investors on Friday. Analysts at Jefferies Group (NYSE: JEF) raised their price target on shares of Freeport McMoRan Copper and Gold to $60.00 in a research note to investors on Thursday. Also, analysts at Standpoint Research downgraded shares of Freeport McMoRan Copper and Gold from a “buy” rating to a “hold” rating in a research note to investors on Friday, January 13rd. They now have a $48.00 price target on the stock.
Freeport-McMoRan Copper & Gold Inc. (FCX), through its wholly owned subsidiary, Phelps Dodge Corporation (Phelps Dodge) is a copper, gold and molybdenum mining company. Its portfolio of assets includes the Grasberg minerals district in Indonesia, which contains the single recoverable copper reserve and the single gold reserve; mining operations in North and South America, and the Tenke Fungurume minerals district in the Democratic Republic of Congo (DRC). FCX also operates Atlantic Copper, its wholly owned copper smelting and refining unit in Spain. As of December 31, 2009, consolidated recoverable proven and probable reserves totaled 104.2 billion pounds of copper, 37.2 million ounces of gold, 2.59 billion pounds of molybdenum, 270.4 million ounces of silver and 0.78 billion pounds of cobalt. Approximately 33 % of its copper reserves were in Indonesia, approximately 33 % were in South America, approximately 26 % were in North America and approximately eight % were in Africa.
Freeport McMoRan Copper and Gold traded up 1.61% on Monday, hitting $43.795. Freeport McMoRan Copper and Gold has a 52-week low of $28.85 and a 52-week high of $58.75. The stock has a 50-day moving average of $39.38 and a 200-day moving average of $41.82. The company has a market cap of $41.518 billion and a price-to-earnings ratio of 9.02.