NEW YORK (TheStreet) -- Shares of Freeport-McMoRan were falling 1.6% to $29.82 Tuesday after reporting a 32% drop in third-quarter earnings. The mining company reported earnings of 53 cents a share for the third-quarter, down from 79 cents a share in the year-ago quarter, and below the 61 cents a share analysts surveyed by Thomson Reuters expected. Revenue fell 7.6% to $5.7 billion in the quarter, compared to analysts' estimates of $5.65 billion. Freeport-McMoRan said the lower third-quarter earnings were due to weaker copper, gold, and oil prices in the quarter. Selling prices fell 4.9% for copper, 8.2% for gold, and 15% for oil from the year-ago quarter. Must Read:aWarren Buffett's 25 Favorite Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. The mining company sold 1.08 billion pounds of copper, 525,000 ounces of gold, and 12.5 million barrels of oil equivalent in the third quarter, compared to 1.04 billion points of copper, 350,000 ounces of gold, and 11.5 million barrels of oil equivalent in the year-ago quarter. TheStreet Ratings team rates FREEPORT-MCMORAN INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation: "We rate FREEPORT-MCMORAN INC (FCX) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and generally higher debt management risk." You can view the full analysis from the report here: FCX Ratings Report FCX data by YCharts STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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