Benzinga | Sep 24, 2020 03:05PM EDT

Why Freeport-McMoRan's Stock Is Trading Higher Today

Freeport-McMoRan (NYSE:FCX) shares are trading higher on Thursday after Morgan Stanley upgraded the stock from Equal-Weight to Overweight.

Freeport-McMoRan Inc mines more copper than any other publicly traded company in the world. Its assets include the Indonesian Grasberg mining complex, the world's largest copper and gold mine in terms of recoverable reserves. Freeport also has significant mining operations in the Americas.

Freeport-McMoRan shares were trading up 4.54% at $15.43 at the time of publication on Thursday. The stock has a 52-week high of $17.50 and a 52-week low of $4.82.