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Shares of Freeport McMoRan Copper and Gold Inc (FCX) saw unusually high trading volume on Thursday. Approximately 18,930,470 shares changed hands during mid-day trading, an increase of 1.82% from the previous session. The stock last traded at $47.86.


On a related note, analysts at Zacks Investment Research reiterated a “neutral” rating on shares of Freeport McMoRan Copper and Gold Inc in a research note to investors on Monday, February 28th. They now have a $54.00 price target on the stock. Separately, analysts at UBS AG (NYSE: UBS) cut their price target on shares of Freeport McMoRan Copper and Gold Inc from $129.00 to $126.00 in a research note to investors on Friday, January 21st. They now have a “buy” rating 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 Inc last announced its quarterly results on Thursday, January 20th. The company reported $3.25 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $3.01 EPS by $0.24. During the same quarter in the prior year, the company posted $2.15 earnings per share. The company’s quarterly revenue was up 21.5% on a year-over-year basis. On average, analysts predict that Freeport McMoRan Copper and Gold Inc will post $1.42 EPS next quarter.


Shares of Freeport McMoRan Copper and Gold Inc (FCX) traded down 0.41% during mid-day trading on Thursday, hitting $48.25. Freeport McMoRan Copper and Gold Inc has a 52 week low of $28.355 and a 52 week high of $61.345. The stock’s 50-day moving average is $53.86 and its 200-day moving average is $50.32. The company has a market cap of $45.669 billion and a price-to-earnings ratio of 10.60.

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