JPMorgan lowered the firm’s price target on Freeport-McMoRan (FCX) to $46 from $56 and keeps an Overweight rating on the shares after the company provided an update on the recent mudslide incident at its flagship Indonesia copper-gold mine. The the anticipated production impact through next year is worse than expectations, the analyst tells investors in a research note. JPMorgan removed Freeport from its Analyst Focus List on the weaker outlook.
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