Freeport-McMoran tops 3Q profit and revenue expectations

Freeport-McMoran Copper & Gold Inc. (FCX) on Tuesday reported third-quarter earnings of $552 million.

The Phoenix-based company said it had profit of 53 cents per share. Earnings, adjusted for non-recurring costs, were 64 cents per share.

The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

The mining company posted revenue of $5.7 billion in the period, also surpassing Street forecasts. Analysts expected $5.6 billion, according to Zacks.

Freeport-McMoran shares have fallen 20 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 6 percent. The stock has fallen 19 percent in the last 12 months.


This story was generated by Automated Insights using data from Zacks Investment Research. FCX stock research report from Zacks.


Keywords:Freeport-McMoran,Earnings Report