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Freeport-mcmoran Copper & Gold, Inc. (FCX) [hlAlert]

Rating:
Hold FCX

Freeport-mcmoran Copper & Gold, Inc. (FCX) rated Hold by Argus

Posted on: Monday,  Jul 29, 2013  3:25 PM ET by Argus

Argus rated Hold Freeport-mcmoran Copper & Gold, Inc. (NYSE: FCX) on 07/29/2013. Previously Argus rated Buy Freeport-mcmoran Copper
& Gold, Inc. (NYSE: FCX) on 10/26/2010., when the stock price was $47.42. Since then, Freeport-mcmoran Copper & Gold, Inc. has lost 38.51% of its value until Argus rated FCX Buy on 04/24/2013, when the price was $29.16. .

Freeport-McMoran Copper & Gold Inc. (FCX), through its wholly owned subsidiary, Phelps Dodge Corporation (Phelps Dodge) is a copper, gold and molybdenum mining company. The Company?s portfolio of assets includes the Grasberg minerals district in Indonesia, which contains single recoverable copper reserve and the single gold reserve of any mine; significant mining operations in North and South America, and the Tenke Fungurume development project in the Democratic Republic of Congo (DRC). As of December 31, 2008, consolidated recoverable proven and probable reserves totaled 102.0 billion pounds of copper, 40 million ounces of gold, 2.48 billion pounds of molybdenum, 266.6 million ounces of silver and 0.7 billion pounds of cobalt. Approximately 35 % of its copper reserves were in Indonesia, approximately 31 % were in South America, approximately 28 % were in North America and approximately six % were in Africa.

Argus Research is an independent research firm, and our business is producing, distributing and marketing high-quality investment and economic research. Our recommendations - BUY, HOLD and SELL - reflect the judgment of an analyst about a company's prospects as an investment in terms of value, expected growth and risks. Argus Research does not bring companies public, advise companies on mergers and acquisitions, broker trades, make markets in stocks or manage money. Our independence allows us to make critical judgments about companies that we might not be so free to make were we competing for a firm's underwriting business. Because we're not a broker/dealer, we don't have "inventory" of a stock that we have to move with a tainted recommendation. We have developed a six-point system for analyzing the stocks in our Universe of Coverage. We believe that this system
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
8/11/2014 12:00 AM Buy
None
36.90 42.00
as of 12/13/2013
1 Week   
1 Month   
3 Months   
1 YTD down  -14.73 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
7/29/2013 3:25 PM Hold
None
28.56
4/24/2013 9:25 AM Hold
None
29.16
10/26/2010 8:25 AM Buy
None
47.42 56.50

(*) Stock Price at the time of the recommendation.
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