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FCX

Freeport McMoRan

$15.64

0.62 (4.13%)

11:05
12/12/17
12/12
11:05
12/12/17
11:05

Freeport McMoRan call volume above normal and directionally bullish

Bullish option flow detected in Freeport McMoRan with 41,465 calls trading, 4x expected, and implied vol increasing almost 3 points to 34.40%. Jan-18 16 calls and Dec-17 16 calls are the most active options, with total volume in those strikes near 11,700 contracts. The Put/Call Ratio is 0.23. Earnings are expected on January 24th.

FCX Freeport McMoRan
$15.64

0.62 (4.13%)

10/04/17
JEFF
10/04/17
NO CHANGE
Target $19
JEFF
Buy
Freeport target lowered to $19 on rising Grasberg risk at Jefferies
Jefferies analyst Christopher LaFemina lowered his price target for Freeport McMoRan to $19 from $23 saying he's oncerned that negotiations between the company and Indonesia regarding the sale of a majority stake in PT-FI to locals have become more contentious. The risk of the dispute going to arbitration has increased, LaFemina tells investors in a research note. The analyst, however, notes he's bullish on Freeport even if there is "significant value leakage" at Grasberg. He keeps a Buy rating on the shares.
10/17/17
DBAB
10/17/17
DOWNGRADE
DBAB
Sell
Freeport McMoRan downgraded to Sell from Hold at Deutsche Bank
Deutsche Bank analyst Chris Terry downgraded Freeport McMoRan to Sell with an unchanged price target of $13. The analyst sees an unfavorable risk/reward profile due to valuation and continued uncertainty at Grasberg.
10/17/17
10/17/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Freeport McMoRan (FCX) downgraded to Sell from Hold at Deutsche Bank with analyst Chris Terry saying he sees an unfavorable risk/reward profile due to valuation and continued uncertainty at Grasberg. 2. Energy Transfer Partners (ETP) downgraded to Neutral from Buy at Goldman Sachs with analyst Theodore Durbin saying he sees a weaker distribution growth outlook and prefers Energy Transfer Equity (ETE) over Energy Transfer Partners. 3. Darden (DRI) downgraded to Hold from Buy at Argus with analyst John Staszak noting the company is not immune from weak conditions in the casual dining industry. 4. Blue Buffalo downgraded to Neutral from Overweight at JPMorgan analyst Ken Goldman saying he sees a more balanced risk/reward saying the company's sales into traditional channels may be weaker than he expected. 5. United Natural Foods (UNFI) downgraded to Underperform at RBC Capital with analyst Bill Kirk saying there is competitive contract risk from Amazon's (AMZN) acquisition of Whole Foods, as Amazon has the ability, incentive and precedent to decrease reliance United Natural Foods. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/11/17
MSCO
12/11/17
UPGRADE
Target $14
MSCO
Equal Weight
Freeport McMoRan upgraded to Equal Weight from Underweight at Morgan Stanley
Morgan Stanley analyst Piyush Sood upgraded Freeport McMoRan to Equal Weight after the firm's metals team upwardly revised its 2018 metals estimates and now forecasts upside to spot aluminum and copper/zinc prices remaining near current levels. Given the higher copper estimates, he raised his price target on Freeport to $14 from $10.

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