RBC Capital Downgrades Freeport-McMoRan (FCX) to Sector Perform
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Freeport-McMoRan (FCX) Acquisitions 'Not' Diversification Play
December 7, 2012 2:35 PM ESTThis week Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) investors were stunned by a surprise $9 billion acquisition of Plains Exploration & Production Company (NYSE: PXP) and McMoRan Exploration Co. (NYSE: MMR). The fact that these are oil and gas companies makes... More
Goldman Sachs Downgrades Freeport-McMoRan (FCX) to Neutral
December 6, 2012 6:49 AM ESTGoldman Sachs downgraded Freeport-McMoRan (NYSE: FCX) from Buy to Neutral with a price target of $38.00 (from $46.00) following yesterday's takeovers of Plains Exploration and McMoRan Exploration.
For an analyst ratings summary and ratings history on Freeport-McMoRan... More
Macquarie Downgrades Freeport-McMoRan (FCX) to Neutral
December 6, 2012 6:47 AM ESTMacquarie downgraded Freeport-McMoRan (NYSE: FCX) from Outperform to Neutral following yesterday's takeovers of Plains Exploration and McMoRan Exploration.
For an analyst ratings summary and ratings history on Freeport-McMoRan click here. For more ratings news on Freeport-McMoRan click here.
Shares of Freeport-McMoRan closed at $32.16 yesterday, with a 52 week range of $31.08-$48.96.... More
BMO Capital Downgrades Freeport-McMoRan (FCX) to Market Perform
December 6, 2012 6:46 AM ESTBMO Capital downgraded Freeport-McMoRan (NYSE: FCX) from Outperform to Market Perform following yesterday's takeovers of Plains Exploration and McMoRan Exploration.
For an analyst ratings summary and ratings history on Freeport-McMoRan click here. For more... More
Citi Downgrades Freeport-McMoRan (FCX) to Neutral
December 6, 2012 6:44 AM ESTCiti downgraded Freeport-McMoRan (NYSE: FCX) from Buy to Neutral following yesterday's takeovers of Plains Exploration and McMoRan Exploration.
For an analyst ratings summary and ratings history on Freeport-McMoRan click here. For more ratings news on Freeport-McMoRan click here.
Shares of Freeport-McMoRan closed at $32.16 yesterday, with a 52 week range of $31.08-$48.96.... More
Freeport-McMoRan (FCX) to Acquire McMoRan (MMR), Plains Exploration (PXP) for ~$9B
December 5, 2012 8:41 AM ESTFreeport-McMoRan Copper & Gold Inc. (NYSE: FCX), Plains Exploration & Production Company (NYSE: PXP) and McMoRan Exploration Co. (NYSE: MMR) announced today that they have signed definitive merger agreements under which FCX will acquire PXP for approximately $6.9 billion in cash and stock and FCX will acquire MMR for approximately $3.4 billion in cash, or $2.1 billion net of 36 percent of the MMR interests currently owned by FCX and PXP. Upon closing, MMR shareholders will also receive a distribution of units in a royalty trust which will hold a 5 percent... More
