Morgan Stanley Maintains Equal-Weight Rating for Freeport-McMoRan: Here's What You Need To Know

Morgan Stanley has decided to maintain its Equal-Weight rating of Freeport-McMoRan FCX and raise its price target from $35.00 to $38.50.

Shares of Freeport-McMoRan are trading down 0.67% over the last 24 hours, at $39.51 per share.

A move to $38.50 would account for a 2.54% decline from the current share price.

About Freeport-McMoRan

Freeport-McMoRan Inc is an international mining company. It operates geographically diverse assets with proven and probable mineral reserves of copper, gold, and molybdenum. The company's portfolio of assets includes the Grasberg minerals district in Indonesia; and mining operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru. It derives key revenue from the sale of Copper.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.