NEW YORK, NY / ACCESSWIRE / July 11, 2017 / Freeport-McMoran saw a gain of over 5% yesterday at the close after announcing that it would be cutting more jobs in Houston. Southern Copper Corporation also saw a modest jump in share price. It was revealed that Credit Suisse AG has upped its stake in the copper miner.

RDI Initiates Coverage on:

Southern Copper Corporation
https://ub.rdinvesting.com/news/?ticker=SCCO

Freeport-McMoRan Inc.
https://ub.rdinvesting.com/news/?ticker=FCX

Southern Copper Corporation's shares closed up 2.32% yesterday. There was no big news from the copper mining company yesterday but it was revealed that Credit Suisse AG has raised its stake in shares of the company by 4.2% during Q1 according to its most recent disclosure with the SEC. The institutional investor now has 396,048 shares of the company. Many other large investors have also changed their positions in the last quarter including Axiom International Investors LLC DE who bought an additional 20,222 shares. The firm now owns 1,408,212 shares valued at $50,541,000.

Access RDI's Southern Copper Corporation Research Report at:
https://ub.rdinvesting.com/news/?ticker=SCCO

Freeport-McMoRan Inc.'s shares closed up 5.21% on Monday despite some disappointing news from the company which some investors may actually have found encouraging. The oil and gas company has been selling off major assets over the last year as well as cutting jobs. On Monday it announced more job cuts. The company plans to cut another 25 jobs in Houston during the two week period starting August 31st and has already notified the Texas Workforce Commission (TWC). The company wrote six letters to the TWC that read, "We have carefully reviewed our operations at Freeport-McMoRan Oil & Gas LLC in light of the recently announced divestiture of key assets in onshore California and the Gulf of Mexico. Regrettably, we have determined that we no longer require a number of employees to support these assets." The company sold its Gulf of Mexico assets last year to Anadarko Petroleum Corp. for $2 billion and sold its California assets to Sentinel Peak in a deal valued as high as $742 million.

Access RDI's Freeport-McMoRan Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=FCX

Our Actionable Research on Southern Copper Corporation (NYSE: SCCO) and Freeport-McMoRan Inc. (NYSE: FCX) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com