Scotiabank raised the firm’s price target on Freeport-McMoRan (FCX) to $72 from $70 and keeps an Outperform rating on the shares. The firm views the company’s memorandum of understanding with the Indonesian government as ” positive” for the company’s shares, bringing long-term clarity to its Grasberg mineral district asset, the analyst tells investors.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FCX:
- Freeport-McMoRan enters MOU with Indonesia government, extends operating rights
- Mixed options sentiment in Freeport McMoRan with shares up 2.5%
- Mixed options sentiment in Freeport McMoRan with shares down 2.76%
- Comcast, Texas Instruments, Nasdaq, Honeywell, Freeport Shaken
- Freeport-McMoRan upgraded to Buy from Hold at Argus