Citi Issues Market Weight Rating on Freeport-McMoran (FCX) Credit
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Price: $47.62 -0.77%
Rating Summary:
21 Buy, 11 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 14
Rating Summary:
21 Buy, 11 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 14
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Citi Fixed Income initiated Freeport-McMoran (NYSE: FCX) with a Marketweight Issuer Weighting. They initiate on the Senior Notes with a Neutral recommendation.
Analyst Richard C Yu notes Freeport-McMoran bonds maturing ’22-’24 are now yielding ~6.00%, compared to 5.80% for Citi’s HY Metals & Mining Index. They see little upside from current levels.
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