CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Freeport-McMoRan Q3 revenue beats expectations on portfolio scale

By Reuters News


Overview

  • U.S. copper producer's Q3 revenue rose and beat analyst expectations

  • Adjusted EPS for Q3 beat analyst expectations

  • Company highlighted its global copper, gold, and molybdenum operations


Outlook

  • Company did not provide specific guidance in the press release


Result Drivers

  • PORTFOLIO SCALE - Co highlighted its large, geographically diverse copper, gold and molybdenum assets


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$7.55 bln

$7.42 bln (9 Analysts)

Q3 Adjusted EPS

Beat

$0.88

$0.81 (16 Analysts)


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 20 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the specialty mining & metals peer group is "buy"

  • Wall Street's median 12-month price target for Freeport-McMoRan Inc is $82.00, about 25.8% above its October 26 closing price of $65.16

  • The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 19 three months ago


Reuters Recommended Reads

  • Oct 26 - Ovintiv to buy Logan Energy for $890 million, expanding Montney oil position

  • Oct 27 - China's Daqo New Energy Q3 revenue jumps on higher polysilicon sales volume


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.