Freeport to cede majority of its Grasberg mine to Indonesia

Freeport to cede majority of its Grasberg mine to Indonesia

The company had revenue of $3.71 billion during the quarter, compared to analysts' expectations of $3.67 billion. Therefore 50% are positive. Delphi Automotive LLP had 43 analyst reports since July 31, 2015 according to SRatingsIntel. The rating was maintained by Needham on Friday, February 10 with "Buy". At present, 2 analysts call it Sell, while 15 think it is Hold. Deutsche Bank downgraded the shares of FCX in report on Monday, October 5 to "Hold" rating. The firm has "Buy" rating given on Thursday, December 1 by UBS. The rating has been disclosed in an analyst note on Monday, 28 August. The rating was maintained by Monness Crespi & Hardt with "Buy" on Monday, September 19. The company was initiated on Wednesday, June 8 by Canaccord Genuity. On Wednesday, October 28 the stock rating was maintained by Deutsche Bank with "Buy". CMTL's profit will be $6.84M for 16.77 P/E if the $0.29 EPS becomes a reality. It also reduced Goldman Sachs (NYSE:K) stake by 1,950 shares and now owns 1,200 shares. Procter And Gamble Co (NYSE:PG) was raised too. Therefore 46% are positive.

Freeport-McMoRan Inc. (NYSE:FCX) has been trading in a bullish manner, based on the relative positions of the stock's 20 and 200 day moving averages.

Freeport Indonesia, a subsidiary of USA mining giant Freeport McMoRan, also agreed to convert its contract of work (CoW) into a Special Mining License (IUPK), build a smelter within the next five years and increase its contribution to state revenues from its Grasberg mine in Papua, announced a government-Freeport joint press conference on Tuesday.

Freeport-McMoRan Inc. (FCX), launched on November 10, 1987, is a mining company.

Freeport-McMoran (NYSE:FCX) last announced its earnings results on Tuesday, July 25th.




Under these rules, the government expects to increase its revenues from Freeport, and the miner could maintain tax rates for "the duration of its operations", Mulyani said. The stock has "Buy" rating by Scotia Capital on Monday, July 10. (NYSE:FCX) were among the worst performers on the day.

Investors sentiment increased to 1.15 in 2016 Q4. Its down 0.15, from 1.15 in 2016Q3. It turned negative, as 61 investors sold FCX shares while 223 reduced holdings. 115 funds opened positions while 711 raised stakes.

In the most updated research from a number of analysts on Wall Street, the company gets 5 Buys and 3 Sell among 22 analysts. Woodstock invested in 0.05% or 18,551 shares. Tower Research Capital Ltd Liability (Trc) holds 0% or 5,502 shares in its portfolio.

Freeport-McMoRan (FCX) said on Tuesday that Indonesia will take a majority stake in its massive Grasberg mine after export restrictions had forced the company to halt production earlier this year. Considering that the stock daily volume of 13.38 million shares, this represents a pretty noteworthy trading in volume size. David R Rahn & Associates accumulated 51,542 shares. Ancora Ltd accumulated 9,577 shares. Pacific Heights Asset Mgmt Ltd Llc invested in 5.07% or 4.07 million shares. Meiji Yasuda Asset Management Company Ltd reported 27,033 shares stake. Cypress Asset Mngmt Inc Tx has 13,368 shares for 0.03% of their portfolio. Cipher Limited Partnership invested in 131,270 shares. First Manhattan Com reported 0% stake. Comparatively, 69.9% of Freeport-McMoran shares are owned by institutional investors. Thompson Davis has invested 0.01% of its portfolio in Freeport-McMoRan Inc (NYSE:FCX). Green Brick Partners Inc. now has $461.61 million valuation. The stock decreased 1.96% or $0.03 on August 28, reaching $1.5. Over the last three months, the shares of the company have changed 33.08% and performed 15.90% over the last six months. It has underperformed by 9.87% the S&P500.

Investors sentiment decreased to 0.87 in 2016 Q4. Its down 0.28, from 1.33 in 2016Q3. Riverhead Capital Mngmt Lc invested in 0.01% or 17,305 shares. Sumitomo Mitsui Asset Mgmt reported 96,879 shares. 15,000 are held by Nj State Employees Deferred Compensation Plan. Stifel Financial invested 0% of its portfolio in Mueller Water Products, Inc. Avalon Advsr Limited Liability Com owns 1.41 million shares or 1.65% of their USA portfolio. Suntrust Banks reported 58,423 shares. Koshinski Asset Management Inc, a Illinois-based fund reported 16,327 shares. Moreover, D E Shaw & Company Incorporated has 0% invested in Cubic Corporation (NYSE:CUB). 107,900 were reported by Ancora Advsrs Limited Liability Co. Amica Retiree Med holds 11,839 shares.

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