FCX - What's Going On With Freeport-McMoRan Shares Today? | Benzinga
Freeport-McMoRan Inc. (NYSE:FCX) shares are trading lower after the company reported first-quarter FY24 results.
Revenue stood at $6.32 billion, beating the consensus of $5.66 billion. Adjusted EPS was $0.32, beating the consensus of $0.27.
Copper sales (excluding purchases) totaled 1.1 billion pounds, an increase of 33% Y/Y, led by higher mining and milling rates and ore grades at PT-FI. The average realized price per pound was $3.94, and production totaled 1.085 billion pounds.
Gold sales of 568 thousand ounces (more than doubled Y/Y); Average realized price per ounce was $2,145.
Operating income stood at $1.63 billion vs $1.60 billion a year ago. Operating cash flow for the quarter totaled $1.90 billion, compared to $1.05 billion a year ago.
Freeport-McMoRan had $6.3 billion in cash and equivalents at the ...