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Freeport-McMoRan’s Earnings Are Expected to Fall

Mark O'Hara
Freeport-McMoRan’s Earnings Are Expected to Fall

Comparative analysis Freeport-McMoRan (FCX) posted an adjusted EBITDA of $1.8 billion in the third quarter. The company posted an EBITDA of $2.1 billion in the second quarter and $1.6 billion in the third quarter of 2017. The sequential decline in Freeport-McMoRan’s earrings, like other copper miners, was due to lower copper prices. After peaking in June, copper prices have come under pressure due to concerns about Chinese demand and the trade war. Southern Copper’s (SCCO) third-quarter EBITDA of $868 million was comparable to the third quarter of 2017. ...