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Strong Copper Sales Help Freeport-McMoRan Beat Analyst Estimates with Q4 Earnings
Jan. 22, 2013 10:40AM PST
Base Metals Investing
Bloomberg reported that Freeport-McMoRan Copper & Gold Inc. beat analyst estimates with their fourth-quarter earnings, buoyed by strong copper sales.
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.
