22.10.2015 - Freeport-McMoRan showed losses due to write-offs
Freeport-McMoRan reported a loss on the background of write-off associated with operations in the oil and gas sector. The largest US mining concern and copper producer announced the revision of the plan for the mining of copper and molybdenum at certain fields in Arizona and Miami. As a result, the company reported a loss of 3.8 billion compared to $ 552 million profit for the same period last year. Revenue fell by 35% to 3.68 billion. We expect a further decline in the company's stocks by 8-10% in the near future against the backdrop of the crisis on commodity markets.