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

up 4.57 %

Freeport-mcmoran Copper & Gold, Inc. (FCX) upgraded to Overweight by HSBC Securities

Posted on: Tuesday,  Apr 15, 2008  9:25 AM ET by HSBC Securities

HSBC Securities rated Overweight Freeport-mcmoran Copper & Gold, Inc. (NYSE: FCX) on 04/15/2008. Previously HSBC Securities rated Sell Freeport-mcmoran Copper & Gold, Inc. (NYSE:
FCX) on 10/25/2007., when the stock price was $56.29. Since then, Freeport-mcmoran Copper & Gold, Inc. has lost 4.37% as of 04/15/2008's recent price of $53.83.
If you would have followed the previous HSBC Securities's recommendation on FCX, you would have gained 4.57% of your investment in 173 days.

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.

HSBC has refined and refocused its Global Equities organisation, creating a lean and flexible business model built to meet the needs of global issuers and investors today and in the future. Acknowledging the changing demands of clients, we have also refined our research model, moving away from traditional maintenance to focus on long term, thematic research (a two-year-plus horizon) combined with short term (zero to three months), real-time, actionable ideas both for companies and sectors.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
4/15/2008 9:25 AM Buy
as of 12/24/2008
1 Week down  -5.69 %
1 Month up  0.14 %
3 Months up  79.43 %
1 YTD down  -68.06 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
10/25/2007 9:25 AM Sell
56.29 47.50

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