Freeport-McMoRan Upgraded to “Strong Buy” at Oracle Investment Research (FCX)

By
A A A
Share |

Analysts at Oracle Investment Research upgraded gold and copper miner Freeport-McMoRan Copper & Gold Inc. ( FCX ) to "Strong Buy" on Friday, saying that they think positively of the pending acquisitions made by FCX.

The analysts value FCX at $60, almost doubling Thursday's closing price of $30.81.

Oracle Investment Research commented, "Short term price drop should be a welcome opportunity to get in on 'the big picture.' The super cycle in natural resources is not dead. By adding an oil portfolio to the mix, this is a game changer and a wise use of capital."


Freeport-McMoRan shares were up 19 cents, or +0.62%, in premarket trading Friday.

The Bottom Line
Shares of Freeport McMoran ( FCX ) have a 4.06% dividend yield, based on last night's closing stock price of $30.81. The stock has technical support in the $26-$30 price area. If the shares can firm up, we see overhead resistance around the $34-$37 price levels.

Freeport-McMoRan Copper & Gold Inc. ( FCX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Created by Dividend.com


This article appears in: Investing , Stocks

Referenced Stocks: FCX

Dividend.com

Dividend.com

More from Dividend.com:

Related Videos

Stocks

Referenced

95%

Most Active by Volume

33,110,376
  • $113.99 ▲ 1.77%
25,034,179
    $17.98 unch
24,486,872
  • $7.41 ▲ 2.07%
20,864,535
  • $7.39 ▼ 2.76%
18,600,501
  • $8.30 ▼ 0.36%
17,530,211
  • $8.14 ▲ 3.17%
17,299,208
  • $93.79 ▲ 2.74%
14,669,760
  • $25.78 ▼ 0.19%
As of 12/26/2014, 04:15 PM


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com