Freeport McMoRan shares fall after production miss, Grasberg setback weighs on outlook

Freeport-McMoRan Inc (NYSE:FCX, XETRA:FPMB) shares fell on Thursday after the US copper miner reported quarterly results that beat profit expectations but flagged weaker production and a slower-than-expected recovery at its key Indonesian mine. The company reported first-quarter adjusted earnings per share of $0.57, above analyst expectations of $0.47, while revenue rose to $6.23 billion compared with estimates of $5.96 billion.