Freeport McMoRan sees copper sales growing to 5B in 2015, 5.7B in 2016 Freeport estimates copper sales steadily rising during 2013 to 2016 time-frame, from 4.1B in 2013, to 4.4B in 2014, to 5.0B in 2015 and 5.7B in 2016. Sees gold sales growing in 2014 to 1.7M ounces from 1.2M ounces in 2013. Sees 2015 gold sales declining to 1.4M ounces before rising to 3.0M ounces in 2016. Sees molybdenum sales growing to 95M pounds in 2014, to 98M pounds in 2015 and to 100M pounds in 2016. Sees 61 MMBOE of oil and gas sales in 2014, growing to 68 MMBOE in 2015 and 81 MMBOE in 2016. Freeport says copper and gold sales estimates assume not changes to PT-FI's planned concentrate shipments and that outlook will be updated as export approvals are obtained. Production estimates in slides for Q4 earnings call.
News For FCX From The Last 14 Days
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On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: Adidas (ADDYY) downgraded to Neutral from Buy at Goldman... Fabrinet (FN) downgraded at B. Riley... Freeport McMoRan (FCX) downgraded at Stifel... Infosys (INFY) downgraded to Hold from Buy at Jefferies... InterMune (ITMN) downgraded to Neutral from Buy at Goldman... Jones Energy (JONE) downgraded to Neutral from Overweight at JPMorgan... LVMH Moet Hennessy (LVMUY) downgraded to Neutral from Buy at Goldman... Madison Square Garden (MSG) downgraded to Hold from Buy at Topeka... Qualys (QLYS) downgraded to Sector Perform from Outperform at RBC Capital... SeaWorld (SEAS) downgraded to Market Perform from Outperform at Wells Fargo... Theravance Biopharma (TBPH) downgraded to Underperform from Neutral at RW Baird... URS Corporation (URS) downgraded to Neutral from Buy at Sterne Agee... ViaSat (VSAT) downgraded to Perform from Outperform at Oppenheimer... Wynn Resorts (WYNN) downgraded to Hold from Buy at Gabelli.