Freeport Drops After Filing for Second $1 Billion Stock Sale
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Freeport-McMoRan Inc., the world’s biggest publicly traded copper producer, said it may sell an additional $1 billion in common stock after it completed a similar offering announced last month.
Freeport fell 6.6 percent to $11.25 at 9:31 a.m. in New York. The Phoenix-based miner’s shares have dropped 51 percent this year amid a global commodity rout.