NEW YORK (TheStreet) -- Freeport-McMoRan Copper & Gold (FCX) continued to rise Thursday to a 52-week high of $38.55 after the company confirmed on Wednesday that CEO Richard Adkerson was still in Jakarta negotiating with the Indonesian government.
Adkerson has been talking with the government to try to avoid international arbitration on a copper export dispute. Freeport halted copper production in the country in January after Indonesia instituted an export tax and other mining regulations to urge the company to build processing plants within the country.
The stock was up 1.61% to $38.44 at 11:33 a.m.
Must Read: Warren Buffett's 25 Favorite Stocks
Separately, TheStreet Ratings team rates FREEPORT-MCMORAN COP&GOLD as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate FREEPORT-MCMORAN COP&GOLD (FCX) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity."
Highlights from the analysis by TheStreet Ratings Team goes as follows: