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Fly News Breaks for February 21, 2017
FCX
Feb 21, 2017 | 05:42 EDT
Deutsche Bank analyst Chris Terry downgraded Freeport McMoRan to Sell following news that the company failed to reach an agreement to export copper concentrate from Indonesia. The analyst now assumes that Grasberg operates on scaled-back mode, only supplying the local Gresik smelter for the remainder of 2017. He cut his price target for Freeport shares to $12.50 from $14.
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