Freeport-McMoRan Inc. (NYSE: FCX) reported third-quarter earnings on Oct. 23. The results highlighted the company’s resilient performance despite a temporary halt in operations at its Grasberg mine in Indonesia. This reduced the company’s quarterly copper and gold output. However, the company’s disciplined cost control and a rise in copper prices continue to make the miner an attractive investment based on long-term copper demand.
Adjusted earnings per share (EPS) came in at 50 cents, which was 22% higher than the 41 cents expected. The number was also 31% higher on a year-over-year (YOY) basis.
