Freeport McMoRan says seeing some signs of recovery in copper in Europe Freeport says U.S. copper demand has improved steadily. Says seeing "relatively improved" near-term fundamentals for copper globally and that long-term fundamentals for copper are strong. Comments from Freeport McMoRan CEO Richard Adkerson speaking on Q4 earnings conference call.
Freeport McMoRan downgraded at BofA/Merrill As previously reported, BofA/Merrill downgraded Freeport McMoRan to Underperform from Neutral. The firm lowered Freeport McMoRan free cash flow estimates and price target to $19 from $22.50 following a reduction in copper and Brent oil price forecasts and said it does not expect a recovery until 2017 and the dispute over Grasberg remains an overhang.