new ratings Freeport McMoRan Copper and Gold Inc stock

new ratings Freeport McMoRan Copper and Gold Inc stock : Freeport McMoRan Copper and Gold Inc (NYSE: FCX) was downgraded by Standpoint Research from a “buy” rating to a “hold” rating in a research note issued on Friday. They currently have a $48.00 price target on the stock.

Separately, analysts at Deutsche Bank (NYSE: DB) reiterated a “buy” rating on shares of Freeport McMoRan Copper and Gold Inc in a research note to investors on Thursday, December 15th. They now have a $48.00 price target on the stock. Analysts at JPMorgan Chase & Co. (NYSE: JPM) reiterated an “overweight” rating on shares of Freeport McMoRan Copper and Gold Inc in a research note to investors on Wednesday, December 14th. Also, analysts at Barclays Capital (NYSE: BCS) reiterated an “overweight” rating on shares of Freeport McMoRan Copper and Gold Inc in a research note to investors on Friday, December 9th.

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.

Shares of Freeport McMoRan Copper and Gold Inc traded down 1.46% during mid-day trading on Friday, hitting $41.83. Freeport McMoRan Copper and Gold Inc has a 52 week low of $28.85 and a 52 week high of $59.835. The stock’s 50-day moving average is $38.41 and its 200-day moving average is $42.11. The company has a market cap of $39.651 billion and a price-to-earnings ratio of 7.42. For the latest updates on the stock market, visit Stock Market Today

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