Freeport-McMoRan Inc. (NYSE: FCX) stock shares are down nearly 4% (3.96%) after the company released its fourth quarter and full-year 2024 earnings report on January 23. The stock is off its session lows in midday trading, but it’s still hovering around its 52-week low.
One reason for the stock’s slide is that the mining company posted a decline in year-over-year (YoY) revenue. The $5.72 billion the company generated was down from the $5.9 billion it generated in the same quarter in 2023. GAAP earnings also missed analysts’ expectations and were lower YoY.
