Freeport-McMoRan Surrenders Gains (FCX)

Shares of Freeport-McMoRan FCX have surrendered their early gains and are hovering around the unchanged mark on the day. Shares of the copper and gold miner are up 10 cents, or 0.10%, to $95.45. Earlier, shares traded as high as $99.65. This morning the company announced third-quarter earnings that easily topped Wall Street expectations. Also, the company raised its annual dividend by 67% to $2.00 a share from $1.20 a share. Still, the news was not enough to push the stock significantly higher. The stock may have already discounted such strong results with a 44% run over the last three months.