Freeport-McMoRan's stock drops after lowered outlook, citing drop in copper prices [MarketWatch]
Freeport-McMoRan, Inc. (FCX)
Last freeport-mcmoran, inc. earnings: 4/24 07:30 am
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Source: MarketWatch
Freeport-McMoRan's stock drops after lowered outlook, citing drop in copper prices Shares of Freeport-McMoRan Inc. FCX, -5.60% dropped 4.8% in morning trading Monday, after the metals miner lowered its second-quarter outlook given the drop in average copper prices during the quarter. The company said copper prices HGU19, -0.29% averaged $2.77 per pound on the London Metal Exchange during the second quarter, compared with the average price of $2.94 a pound recorded at the end of the first quarter. The metals miner expects the impact of lower copper prices to lower second-quarter revenue by about $85 million. The company said current analyst estimates reflect an average copper price of about $2.95 a pound. As a result, Freeport-McMoRan said it estimates the impact on second-quarter revenue of lower copper prices, including adjustments for provisionally priced sales recorded at March 31, to be about $260 million. The company said it expects to record a loss of 5 cents a share to ne
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FCX
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- 1/25/24 - Beat
FCX
Sec Filings
- 4/16/24 - Form PRE
- 4/2/24 - Form 4
- 4/2/24 - Form 4
- FCX's page on the SEC website