Today's Research Reports on Stocks to Watch: Kinross Gold Corporation and Freeport-McMoran
NEW YORK, NY / ACCESSWIRE / August 17, 2017 / Shares of Freeport-McMoRan plowed ahead in Wednesday trading despite a flash flood at its Indonesia business unit not only causing extensive damage to a plant but also resulted in a worker missing. The fact that key metals such as copper and gold are trading up helped boost both Freeport and Kinross Gold Corporation. Kinross also received a "buy" rating this week from Jefferies Group.
RDI Initiates Coverage on:
Kinross Gold Corporation
https://ub.rdinvesting.com/news/?ticker=KGC
Freeport-McMoRan Inc.
https://ub.rdinvesting.com/news/?ticker=FCX
Kinross Gold Corporation's shares closed up 5.04% yesterday on nearly 15 million shares traded. There was no significant news from the company to explain the jump but with key metals seeing better prices recently, the stock was among several gold stocks to get a boost on Wednesday. Analysts at Jefferies Group has given a "hold" rating to the stock on Tuesday and issuing a $4.00 price target. Overall, the company has a 47% "buy" rating by analysts and a 42% "hold" rating. Earlier this month the company reported its second quarter results, revealing that it produced 694,874 gold equivalent ounces (Au eq. oz.), compared with 671,267 Au eq. oz. in Q2 2016. Revenue for the period was $868.6 million, compared with $876.4 million in Q2 2016.
Access RDI's Kinross Gold Corporation Research Report at:
https://ub.rdinvesting.com/news/?ticker=KGC
Freeport-McMoRan Inc.'s shares closed up 5.73% on Wednesday with nearly 24 million shares traded. The gain was somewhat surprising considering that the copper and gold miner had some horrible news about an Indonesian business unit. At its operations in the eastern-most province of Papua, flash floods have caused extensive damage to a power plant and have even left one worker missing. The company commented, "One person remains unaccounted for after flash floods that occurred late Tuesday destroyed roads, bridges, water lines and most of the plant that supplies power to Tembagapura and Hidden Valley. Due to the extensive damage, (power and water) outages may occur until at least tomorrow." Considering that commodity prices for gold and copper have been almost hitting levels the metals have not seen in years, traders seemed optimistic about the future for Freeport.
Access RDI's Freeport-McMoRan Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=FCX
Our Actionable Research on Kinross Gold Corporation (NYSE: KGC) and Freeport-McMoRan Inc. (NYSE: FCX) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
