Freeport-McMoRan Earnings Beat; FCX Stock Rises As Copper Giant Sees Long-Term Gains

Freeport-McMoRan (FCX) posted Q4 earnings that topped Wall Street estimates, but fell vs. a year ago amid lower copper prices and higher costs. FCX stock rose in Wednesday’s stock market action.




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Freeport booked an average copper price of $3.78 a pound in Q4, down from $4.41 a year earlier. On Wednesday, copper futures dipped 2.5 cents to $4.21 a pound, holding near their highest level since May.

Copper prices have surged on demand expectations as China’s economy reopens and odds…

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