What's The Significance Of Cost Of Sales In Freeport-McMoRan's Expenses And Profitability?

Freeport-McMoRan's (NYSE: FCX) expenses are largely driven by cost of sales, which accounted for 85% of its total expenses in 2018. As a percentage of revenue, cost of sales accounts for 72% of revenues. However, this is a sharp reduction from 118% in 2016, mainly due to sale of its high cost...