NEW YORK (TheStreet) -- Shares of Freeport-McMoRan (FCX) - Get Report were gaining in early-afternoon trading on Tuesday despite reporting 2016 third-quarter earnings and revenue below analysts' expectations.

Before the market open, the Phoenix-based miner reported adjusted earnings of 13 cents per share, missing analysts' estimates of 20 cents per share. 

Revenue climbed to $3.88 billion from $3.38 billion a year ago but fell short of analysts' estimates of $3.96 billion.

Freeport said it sold 1.2 million pounds of copper and 317,000 ounces of gold during the quarter. 

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Shares were benefiting this afternoon as copper and gold prices rose. Copper for December delivery was up 2.22% to $2.14 a pound on the COMEX, while gold for December delivery was higher by 0.78% to $1,273.60 per ounce. 

Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.

Freeport's weaknesses include its generally high debt management risk, disappointing return on equity, weak operating cash flow, poor profit margins and generally disappointing historical performance in the stock itself.

You can view the full analysis from the report here: FCX

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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