Freeport-McMoRan slips as lower Grasberg operating rates weigh on Q2 revenue (NYSE:FCX)
Freeport-McMoRan (FCX) stock fell 2.2% despite Q2 adjusted earnings beating estimates. The decline was attributed to a 7% year-over-year drop in Q2 revenue to $7.03 billion and a slightly lowered Q3 copper sales outlook, primarily due to lower operating rates at its Grasberg mine. …