Freeport Misses profitability Estimates Due to Falling Copper Prices

July 28, 2022 10:19:21

Freeport-McMoRan Inc. (NYSE: FCX) recently posted its released profit figures last week, which show lower figures than expected per estimates. This comes as the price for copper drops amid coronavirus lockdowns in China as well as widespread fears of a global recession.

Freeport, which is said to be the largest publicly traded miner of copper globally, reported a net income of $840 million for the second quarter of…

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