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FCX

Freeport McMoRan

$10.60

0.01 (0.09%)

06:56
12/19/18
12/19
06:56
12/19/18
06:56

Freeport McMoRan must pay Indonesia $32M in royalties, Reuters reports

Indonesia's Supreme Audit Agency says Freeport McMoRan must pay the country $32M in royalties for thousands of hectares of protected forest it used without a permit, Reuters reports. A 2017 state audit of operations at Freeport Indonesia's Grasberg copper mine indicated the miner's use of more than 4,000 hectares of protected forest in which to deposit its tailings. Reference Link

FCX Freeport McMoRan
$10.60

0.01 (0.09%)

12/18/18
DBAB
12/18/18
NO CHANGE
DBAB
Rio Tinto acquisitions part of Deutsche's 'left-field ideas' for miners
With the potential for slower growth in China, weaker iron ore prices and rising production costs, the Mining industry may consider bold actions in 2019, Deutsche Bank told investors in a research note. The firm's "left-field ideas" include Rio Tinto (RIO) possibly considering acquisitions of Anglo American (NGLOY), First Quantum Minerals (FQVLF) or Freeport McMoRan (FCX). Deutsche also thinks BHP Billiton (BHP) could further look to trim its portfolio with a spinoff that includes its Nickel West unit, oil and gas operations in Australia, and thermal coal in Colombia and Australia.
11/07/18
11/07/18
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 Underperform from Sector Perform at RBC Capital with analyst Stephen Walker saying he points to the company's premium valuation ahead of what he expects to be a decline in 2019 production. 2. Zillow (Z, ZG) downgraded to Sell from Hold at Zelman and to Negative from Neutral at Susquehanna. 3. Mindbody (MB) downgraded to Neutral from Buy at UBS and Roth Capital as well as to Neutral from Overweight at JPMorgan. 4. Frontier Communications (FTR) downgraded to Sell from Neutral at UBS with analyst Batya Levi saying Frontier's free cash flow remains under pressure. 5. Audentes downgraded to Market Perform from Outperform at William Blair with analyst Raju Prasad saying increased competition in Pompe disease is giving him pause. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/07/18
RBCM
11/07/18
DOWNGRADE
Target $15
RBCM
Underperform
Freeport McMoRan downgraded to Underperform at RBC Capital on valuation
As noted earlier, RBC Capital analyst Stephen Walker downgraded Freeport McMoRan to Underperform from Sector Perform and lowered his price target to $15 from $16. The analyst points to the company's premium valuation ahead of what he expects to be a decline in 2019 production. Walker also cites Freeport McMoRan's operating risks associated with the transition from open-pit to underground mining at the Grasberg mine and the "integration risk associated with Inalum becoming a new partner."
11/06/18
RBCM
11/06/18
DOWNGRADE
RBCM
Underperform
Freeport McMoRan downgraded to Underperform from Sector Perform at RBC Capital

TODAY'S FREE FLY STORIES

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RPAY

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RETA

Reata Pharmaceuticals

$101.70

5.9 (6.16%)

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RPAY

Repay Holdings

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AEMD

Aethlon Medical

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  • 14

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AYTU

Aytu BioScience

$1.22

0.01 (0.83%)

15:55
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Aytu BioScience to host conference call »

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  • 14

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JNJ

Johnson & Johnson

$130.78

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15:53
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  • 15

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RGSE

RGS Energy

$0.00

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TGNA

Tegna

$15.21

0.05 (0.33%)

15:50
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Periodicals
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  • 07

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RCUS

Arcus Biosciences

$8.12

-0.075 (-0.92%)

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Conference/Events
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  • 21

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MLND

Millendo Therapeutics

$7.09

-0.15 (-2.07%)

15:24
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MREO

Mereo BioPharma

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$NSD

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$NYE

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FAST

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Downgrade
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PE

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  • 14

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CURO

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AAPL

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ZUO

Zuora

$14.37

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BAC

Bank of America

$29.06

0.155 (0.54%)

, GS

Goldman Sachs

$205.68

0.98 (0.48%)

14:54
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Earnings
Fly Intel: What to watch in next round of big banks' earnings reports »

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BAC

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MS

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BABA

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FDC

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$0.00

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$NSD

NASDAQ Market Internals

$0.00

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Technical Analysis
NASDAQ market internals summary »

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