Freeport-McMoRan Q1 Earnings Rise

(RTTNews) - Freeport-McMoRan Inc. (FCX), a mining company, Thursday reported higher earnings and revenue for the first quarter compared to the same period last year.

Quarterly earnings increased to $881 million or $0.61 per share from $352 million or $0.24 per share of last year.

Revenue grew $6.234 billion from $5.728 billion of the previous year.

However, quarterly copper production decreased to 662 million pounds from 868 million pounds of the prior year.

Gold production for the quarter declined to 97 million pounds from 287 million pounds of last year.

Additionally, the company declared a quarterly dividend of $0.15 per share to be paid on May 1, to shareholders of record as on April 15.

In pre-market activity, FCX shares were trading at $64.75, down 7.89% on the New York Stock Exchange.