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Analysts Expect Freeport to Announce Q2 Profit Drop, but Remain Optimistic About Future Earnings
Jul. 23, 2013 07:48AM PST
Base Metals Investing Forbes reported that analysts widely expect Freeport-McMoran Copper and Gold (NYSE:FCX) to announce declining profits in their second quarter profits, but continue to rate the company a “buy”.
Forbes reported that analysts widely expect Freeport-McMoran Copper and Gold (NYSE:FCX) to announce declining profits in their second quarter profits, but continue to rate the company a “buy”.
As quoted in the Forbes report:
The company has been profitable for the last eight quarters, but income has been falling for the last four by an average of 16% year-over-year. The company weathered a blow in the second quarter when net income dropped 48%, marking the hardest-hit quarter.