Analysts Expect Freeport to Announce Q2 Profit Drop, but Remain Optimistic About Future Earnings

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.

To view the whole Forbes report, click here.