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Fly News Breaks for May 23, 2018
RIO, FCX
May 23, 2018 | 06:28 EDT
B. Riley FBR analyst Lucas Pipes upgraded Freeport McMoRan (FCX) to Buy from Neutral and raised his price target for the shares to $20 from $17. Rio Tinto's (RIO) reported $3.5B deal with Indonesia for its interest in the Grasberg copper and gold mine sets an "attractive valuation marker" for Freeport, Pipes tells investors in a research note. The analyst believes Freeport now offers a greater risk/reward profile and recommends buying the shares at current levels.
News For FCX;RIO From the Last 2 Days
RIO
Apr 17, 2024 | 15:33 EDT
FCX
Apr 17, 2024 | 05:46 EDT
JPMorgan raised the firm's price target on Freeport-McMoRan to $52 from $43 and keeps a Neutral rating on the shares as part of a Q1 earnings preview for the North America copper group. Copper's recent bullish shift has unfolded quicker than expected while coinciding with earlier than anticipated momentum building in global manufacturing PMIs, suggesting pricing may have outpaced fundamentals at this point, the analyst tells investors in a research note.
RIO
Apr 16, 2024 | 18:41 EDT
Backs FY24 Bauxite production view at 53-56 Mt, Aluminum production at 3.2-3.4Mt, Mined Copper production at 660-720kt.
RIO
Apr 16, 2024 | 18:39 EDT
