Analysts at HSBC initiated coverage on Freeport-McMoran Copper & Gold FCX with an “overweight” rating.
The target price for Freeport-McMoran is set to $44.
Freeport-McMoran shares have surged 41.45% the past 52 weeks, while the S&P 500 index has gained 18.82% in the same period.
Freeport-McMoran's shares dropped 1% to $38.65 in pre-market trading.
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