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Freeport-McMoRan Q4 Profit Falls

Freeport-McMoRan Inc. (FCX) reported that its net income attributable to common stock for the fourth-quarter was $9 million or less than $0.01 per share, compared to $485 million or $0.33 per share in the prior year.

After adjusting for net charges of $22 million or $0.02 per share, adjusted net income attributable to common stock for the fourth-quarter 2019 was $31 million or $0.02 per share.

Consolidated sales totaled 906 million pounds of copper, 317 thousand ounces of gold and 22 million pounds of molybdenum in fourth-quarter 2019.

Revenue grew to $3.91 billion from $3.68 billion in the prior year.

Analysts polled by Thomson Reuters expected the company to report break even per share and revenues of $3.7 billion for the quarter. Analysts' estimates typically exclude special items.

In Thursday pre-market trade, FCX is currently trading at $11.95 down $0.37 or 3.00 percent.

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