Freeport-McMoRan: 3Q Earnings Snapshot

Freeport-McMoRan Inc. (FCX) on Wednesday reported third-quarter profit of $556 million.

The Phoenix-based company said it had net income of 38 cents per share. Earnings, adjusted for non-recurring gains, came to 35 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.

The mining company posted revenue of $4.91 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $4.38 billion.

Freeport-McMoRan shares have fallen 39 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 2.5 percent.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on FCX at https://www.zacks.com/ap/FCX