Freeport-McMoRan reported third-quarter adjusted earnings of $0.88 per share, beating estimates of $0.80, with revenue up 8% to $7.55 billion, helped by higher commodity prices. Copper and molybdenum prices averaged $6.54 and $32.46 per pound, while copper sales fell to 749 million pounds from 977 million a year earlier due to lower operating rates in Indonesia during the ramp-up of the Grasberg Block Cave mine. Gold sales of 105 thousand ounces fell well short of the earlier estimate of 160 thousand ounces, mainly due to timing of refined gold sales in Indonesia. For full-year 2026, Freeport expects sales of about 3.0 billion pounds of copper, 649 thousand ounces of gold and 93 million pounds of molybdenum, with operating cash flow of about $8.5 billion. Shares rose 0.6% following the results.
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