Market Overview

UPDATE: Jefferies Reiterates on Freeport-McMoRan Copper & Gold Following Solid Quarter Report

Related FCX
Goldman Sachs Initiates On A Slew Of Metal and Mining Stocks
Jim Cramer Gives His Opinion On Corning, McDonald's And More
Indonesia expects Freeport sale bank financing soon (Seeking Alpha)

In a report published Wednesday, Jefferies analyst Peter Ward reiterated a Buy rating on Freeport-McMoRan Copper & Gold (NYSE: FCX), and raised the price target from $40.00 to $45.00.

In the report, Jefferies noted, “FCX reported a solid quarter operationally with EPS of 87¢ vs. our estimate of 70¢ and the Street estimate of 63¢. Importantly, management remains focused on accelerating de-leveraging through asset sales, JVs and capex cuts. We are raising our 1-year target to $45.”

Freeport-McMoRan Copper & Gold closed on Tuesday at $36.36.

Latest Ratings for FCX

Mar 2018Goldman SachsInitiates Coverage OnBuy
Mar 2018UBSMaintainsNeutralNeutral
Feb 2018Stifel NicolausMaintainsHoldHold

View More Analyst Ratings for FCX
View the Latest Analyst Ratings

Posted-In: Jefferies Peter WardAnalyst Color Price Target Analyst Ratings


Related Articles (FCX)

View Comments and Join the Discussion!