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Stock Market & Financial Investment News

News Breaks
March 20, 2014
08:02 EDTFCXFreeport McMoRan Oil & Gas wins 20 tracts in Gulf of Mexico lease sale
Freeport-McMoRan announced that its oil & gas segment, Freeport-McMoRan Oil & Gas was the apparent high bidder on 20 tracts in the Central Gulf of Mexico Oil and Gas Lease Sale 231 with a total investment of approximately $330M net to FM O&G. The bids are subject to approval by the U.S. Bureau of Ocean Energy Management and these potential investments were included in the company’s previously reported FY14 capital budget. FM O&G winning bids were primarily focused on high-impact, drillable targets in the Mississippi Canyon and Atwater Valley areas to complement FM O&G’s existing infrastructure and production facilities and add several new exploration plays. The blocks, which cover approximately 106K gross acres, range in water depths up to 6K feet. The company expects to be notified and designated operator of these blocks by 3Q14.
News For FCX From The Last 14 Days
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October 30, 2014
07:25 EDTFCXFreeport McMoRan price target lowered to $37 from $39 at Brean Capital
Brean Capital lowered its price target on Freeport McMoRan to $37 from $39 following its Q3 earnings beat, citing the company's soft guidance and lower commodity pricing. Brean Capital reiterates its Buy rating on Freeport McMoRan shares.
October 29, 2014
08:44 EDTFCXFreeport McMoRan risks priced into shares, says BofA/Merrill
BofA/Merill believes Freeport McMoRan's Indonesia risk is priced in shares and downside is limited. The analyst said Freeport's investment grade balance sheet is underappreciated and a positive agreement with GOIN could be the next positive catalyst. Shares are Buy rated with a d$39 price target, down from $42.
October 28, 2014
10:47 EDTFCXFreeport McMoRan: Balance sheet is a work in progress
10:13 EDTFCXFreeport McMoRan says copper consumption continues to remain strong
Despite the global economic conditions that overhang the copper market, such as geopolitical and financial issues in Europe and China, the company said it has a positive outlook on copper consumption boasted by moderate growth in the US. Comments taken from Q3 earnings conference call.
08:19 EDTFCXFreeport McMoRan reports Q3 EPS ex-charges 64c, consensus 61c
08:18 EDTFCXFreeport McMoRan Q3 results include 11c charges
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08:07 EDTFCXFreeport McMoRan sees Q4 Oil and gas sales volumes 125 MBOE/day
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08:04 EDTFCXFreeport McMoRan reports Q3 EPS with charges 53c, consensus 61c
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October 27, 2014
15:36 EDTFCXNotable companies reporting before tomorrow's open
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13:12 EDTFCXEarnings Preview: Freeport McMoRan sees Q3 copper sales about 1.1B pounds
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08:29 EDTFCXFreeport copper miners threaten month long strike, Reuters reports
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October 20, 2014
06:20 EDTFCXFreeport McMoRan upgraded to Neutral from Sell at Citigroup
Citigroup upgraded Freeport McMoRan to Neutral citing the recent pullback in shares. Citi keeps a $31 price target for the stock.

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