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Freeport-McMoRan's stock falls after profit rises above expectations but revenue comes up a bit shy

·1 min read
Freeport-McMoRan's stock falls after profit rises above expectations but revenue comes up a bit shy
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Shares of Freeport-McMoRan Inc. fell 1.8% in premarket trading Thursday, after the mining company reported third-quarter net profit that soared more than four-fold, while revenue came up short of expectations, as realized copper prices soared but gold prices fell. Net income climbed to $1.40 billion, or 94 cents a share, from $329 million, or 22 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to 89 cents, above the FactSet consensus of 81 cen