Strong Copper Sales Help Freeport-McMoRan Beat Analyst Estimates with Q4 Earnings

Bloomberg reported that Freeport-McMoRan Copper & Gold Inc. beat analyst estimates with their fourth-quarter earnings, buoyed by strong copper sales.

As quoted in the market report:

Profit excluding an environmental expense and an insurance gain was 74 cents a share, beating the 72-cent average of 20 estimates compiled by Bloomberg. Copper sales rose 18 percent to 972 million pounds, the Phoenix-based company said today in a statement. That beat Freeport’s Oct. 22 forecast of 930 million pounds. The shares rose as much as 4.6 percent.

To view the full Bloomberg report, click here.