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Freeport-McMoRan shares fall as analysts call asset sale 'cheap'

Shares of Freeport-McMoRan fell more than 8 percent on Tuesday after the company announced it was selling more assets, a deal that some analysts said was "cheap."

On Monday, Freeport said it will sell some of its oil and gas assets in the Deepwater Gulf of Mexico to Anadarko Petroleum for $2 billion in cash consideration. CEO Richard Adkerson said that this deal reflects the company's "commitment to debt reduction" and its shift to focus on its copper business.

In a research report, Deutsche Bank said the transaction is of "low value."