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Coverage of Freeport McMoRan (FCX -0.2%) is resumed with a Neutral rating and $39 price target...

Coverage of Freeport McMoRan (FCX -0.2%) is resumed with a Neutral rating and $39 price target at BAML, which expects shares to lag copper peers following FCX's surprising entry into oil and gas with last week's acquisitions. The diversification breaks a long-standing strategic focus in copper from what the firm viewed as one of the most disciplined capital allocation mining companies.
Comments (1)
  • saratogahawk
    , contributor
    Comments (2409) | Send Message
     
    I got in at 31.08. I think this is a great opportunity for FCX to balance revenues and growth. Its now a "resources" company not just a "copper/gold" play. I looked at Davy Jones and think that it is resolvable and will be a great reservoir when the barite problem is solved.
    10 Dec 2012, 11:24 AM Reply Like
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