Sector: Materials|Industry: Copper|Market Cap: $55.62B|Employees: 27.2K
Freeport-McMoRan is a leading international mining company, primarily focused on copper, with significant gold and molybdenum production. They operate large, long-lived assets across the globe, including the Grasberg minerals district in Indonesia and large-scale mining operations in North and South America. Freeport-McMoRan is one of the world's largest publicly traded copper producers and benefits from favorable long-term copper demand fundamentals.
Revenues increased to $6.321 billion, up from $5.389 billion in the same quarter last year, driven by significant increases in copper and gold sales volumes from PT Freeport Indonesia (PT-FI).
Net income attributable to common stockholders decreased to $473 million from $663 million in the same quarter last year, primarily due to higher income attributable to noncontrolling interests at the Indonesia operations.
Operating cash flow increased to $1.896 billion from $1.050 billion in the same quarter last year, driven by higher sales volumes and prices.