RBC Downgrades Freeport-McMoRan (FCX) to Sector Perform
Get Alerts FCX Hot Sheet
Price: $49.82 +0.83%
Rating Summary:
21 Buy, 11 Hold, 3 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 13 | New: 19
Rating Summary:
21 Buy, 11 Hold, 3 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 13 | New: 19
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RBC Capital downgrades Freeport-McMoRan Copper & Gold (NYSE: FCX) from Outperform to Sector Perform.
The downgrade comes just one day after shares of Freeport-McMoRan hit a new 52-week low at $30.03. The stock has not been at this level since early 2005. Since hitting a new 52-week high at $127.24 earlier this year, shares of Freeport have fallen more than 75%, but most of these losses have taken place in September and October, when the stock is down about 63%.
Freeport is indicated to open about 1.6% lower and most recently traded at $32.86.
Freeport-McMoRan Copper & Gold, Inc. engages in the exploration, mining, and production of mineral properties primarily in Indonesia, North America, South America, and Africa.
The downgrade comes just one day after shares of Freeport-McMoRan hit a new 52-week low at $30.03. The stock has not been at this level since early 2005. Since hitting a new 52-week high at $127.24 earlier this year, shares of Freeport have fallen more than 75%, but most of these losses have taken place in September and October, when the stock is down about 63%.
Freeport is indicated to open about 1.6% lower and most recently traded at $32.86.
Freeport-McMoRan Copper & Gold, Inc. engages in the exploration, mining, and production of mineral properties primarily in Indonesia, North America, South America, and Africa.
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