Why Freeport-McMoRan (FCX) Stock Is Declining In Pre-Market Trading Today

NEW YORK (TheStreet) -- Freeport-McMoRan (FCX) shares are down -0.9% to $36.02 in pre-market trading on Tuesday after being downgraded to "equal weight" from "overweight" by analysts at Morgan Stanley (MS) .

The downgraded outlook comes as the sale of the mining company's Chilean mine was delayed due to a lack of clarity with local officials involving a tax issue in the country.

The company is in talks with Lundin Mining  (LUNCF) to sell its copper mine in Candelaria for a reported $2 billion.

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TheStreet Ratings team rates FREEPORT-MCMORAN INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate FREEPORT-MCMORAN INC (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 robust revenue growth, reasonable valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and generally higher debt management risk."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

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