Freeport McMoRan Misses Guidance, Shares Surge Anyway
Shares of copper and gold miner Freeport McMoRan (NYSE: FCX) are up 13% as of 11 a.m. EDT today after the company reported second-quarter results.
Image source: Getty Images.
Here's the bizarre thing about this share-price increase today: The company didn't beat guidance. Adjusted earnings per share for the second quarter came in at $0.17, whereas consensus estimates compiled by S&P Global Market Intelligence had Freeport's earnings coming in at $0.20 per share. The company beat revenue expectations, though, pulling in $3.71 billion in revenue for the quarter.
Source: Fool.com
Freeport-McMoRan Inc. Stock
€47.36
0.630%
Freeport-McMoRan Inc. is currently one of the favorites of our community with 13 Buy predictions and no Sell predictions.
As a result the target price of 50 € shows a slightly positive potential of 5.57% compared to the current price of 47.36 € for Freeport-McMoRan Inc..
