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Freeport shares tumble, copper futures rise on guidance cut due to Indonesia mine accident
Shares of Freeport-McMoRan tumbled Wednesday after the Phoenix-based miner said it expected a significant decline in third-quarter copper revenue due to an accident at its Indonesia mine earlier this month that will keep much of it shut down into the first half of 2026. Freeport said in a release Wednesday that it expects consolidated sales of copper to be 4 per cent lower than its July estimates. Gold sales are expected to be 6 per cent lower than previous estimates. Shares of Freeport fell more than 13 per cent at midday, to US$39.31 each. Copper futures rose 3.8 per cent to US$4.82 a pound at midday, with analysts ... (full story)
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- Sep 25, 2025 4:01am Posted byFundamental Analysis242
