| Freeport-McMoran reports 4Q loss | |
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PHOENIX (AP) _ Freeport-McMoran Copper & Gold Inc. (FCX) on Tuesday reported a fourth-quarter loss of $2.85 billion, after reporting a profit in the same period a year earlier.
The Phoenix-based company said it had a loss of $2.75 per share. Earnings, adjusted for non-recurring costs, came to 25 cents per share.
The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The mining company posted revenue of $5.24 billion in the period, which beat Street forecasts. Analysts expected $5.18 billion, according to Zacks.
For the year, the company reported a loss of $1.31 billion, or $1.26 per share, swinging to a loss in the period. Revenue was reported as $21.44 billion.
Freeport-McMoran shares have decreased 16 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has fallen 40 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FCX at http://www.zacks.com/ap/FCX
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Keywords: Freeport-McMoran Copper & Gold, Earnings Report
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Freeport McMoRan Copper and Gold Inc.
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PRODUCER |
CODE : FCX |
ISIN : US35671D8570 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Freeport McMoran is a gold and copper producing company based in United states of america. Freeport McMoran produces gold, copper, cobalt, molybdenum and silver in Chile, in Congo Dem. Rep. of, in Indonesia and in Peru, develops copper in Congo Dem. Rep. of, and holds various exploration projects in Chile. Its main assets in production are CANDELARIA, EL ABRA, HENDERSON, CHINO - MILL and OJOS DEL SALADO in Chile, GRASBERG, SIERRITA and BAGDAD in Indonesia, TENKE FUNGURUME, TYRONE, MIAMI - ROM LEACH, MORENCI - MILL, MORENCI and MORENCI - ROM LEACH in Congo Dem. Rep. of and CERRO VERDE in Peru, its main asset in development is SAFFORD in Congo Dem. Rep. of and its main exploration properties are CERRO VERDE - ROM LEACH, EL ABRA - ROM LEACH, CERRO VERDE - MILL, CERRO VERDE - CRUSHED LEACH, BAGDAD - ROM LEACH, CHINO - ROM LEACH and CLIMAX in Chile. Freeport McMoran is listed in Germany and in United States of America. Its market capitalisation is US$ 69.5 billions as of today (€ 65.2 billions). Its stock quote reached its lowest recent point on March 06, 2020 at US$ 10.00, and its highest recent level on April 23, 2024 at US$ 47.99. Freeport McMoran has 1 448 000 000 shares outstanding. |