Commodities Stock ratings Update (US Steel, FCX, NUE)

Shares of United States Steel Corporation (NYSE:X) slid $1.59 or 3.50% to $44.61 after analysts at Goldman Sachs downgrade the stock from Buy to Neutral, while reducing the price target by $6 to $45.

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The firm also cut its 2011/2012 estimates to $3.60/$6.00 from $5.50/$7.50, citing lower expected margins in flat rolled carbon products both in the US and Europe.

United States Steel Corporation (U. S. Steel) is an integrated steel producer of flat-rolled and tubular products with production operations in North America and Europe. The Company has an annual raw steel production capability of 31.7 million net tons (tons) (24.3 million tons in North America and 7.4 million tons in Europe).

The firm also downgraded the stock of Nucor Corporation (NYSE:NUE) from Buy to Neutral and lowered the price target by $5 to $40.

The firm reduced its 2010/2011 estimates $0.64/$2.80 from $1.14/$4.00 due to increased costs. The firm cut its price target form $45 to $40.

Shares of NUE are down are down 0.835 to $38.42.

Nucor Corporation (Nucor) along with its affiliates is engaged in the business of manufacturing of steel and steel products, with operating facilities and customers primarily located in North America.

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On the other hand, Goldman Sachs upgraded the shares of Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) to Buy from Neutral, citing the firm sees continuous improvement in copper fundamentals to a point that copper is likely be in a deficit in the first half of 2011.

The firm also raised its price target by $15 to $94.

This morning, shares of FCX have jumped 0.67% to $82.27 o n high volumes.

Freeport-McMoRan Copper & Gold Inc. (FCX), through its wholly owned subsidiary, Phelps Dodge Corporation (Phelps Dodge) is a copper, gold and molybdenum mining company. Its portfolio of assets includes the Grasberg minerals district in Indonesia, which contains the single recoverable copper reserve and the single gold reserve; mining operations in North and South America, and the Tenke Fungurume minerals district in the Democratic Republic of Congo (DRC).

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