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PD $$65~$76~$75 reduces Q4 guidance, copper production below consensus (PD) 154.55 : Co issues downside guidance for Q4 (Dec), sees EPS of $3.05-3.35, excluding a $2.05 charge, down from previous guidance of $4.38-4.63, vs. $4.72 Reuters Estimates consensus. Total Q4 copper production was 613 mln pounds, 37 mln pounds below the low end of previous guidance.
"Copper prices during the fourth quarter averaged $1.95 per pound on the London Metal Exchange and $2.03 per pound on the New York Commodity Exchange, while fourth quarter guidance was based on a projection of $1.80 per pound".
** Copper now $2.40/lb
"Copper prices during the fourth quarter averaged $1.95 per pound on the London Metal Exchange and $2.03 per pound on the New York Commodity Exchange, while fourth quarter guidance was based on a projection of $1.80 per pound".
** Copper now $2.40/lb
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