Freeport-McMoRan quarterly profit slumps on lower copper prices
Freeport-McMoRan quarterly profit falls on lower copper price By Reuters
Economy 3 minutes ago (Jan 25, 2023 08:21AM ET)
(C) Reuters. FILE PHOTO: The logo of copper miner Freeport-McMoRan Inc is displayed on their offices in Phoenix, Arizona, U.S. June 30, 2022. REUTERS/Ernest Scheyder
(Reuters) – Miner Freeport-McMoRan (NYSE:FCX) Inc reported a fall in fourth-quarter profit on Wednesday as recession fears, interest rate hikes and COVID-induced lockdowns in China dented copper prices.
The Phoenix-based miner’s net income fell to $697 million, or 48 cents per share, in the three months ended Dec. 31, compared with $1.1 billion, or 74 cents per share, last year.
Freeport-McMoRan quarterly profit falls on lower copper price
(C) 2007-2023 Fusion Media Limited. All Rights Reserved.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.