Copper and gold mining giant Freeport McMoran Inc. said Thursday it had net income of $140 million, or 9 cents a share, in the fourth quarter, down from $1.04 billion, or 71 cents a share, in the year-earlier period. Adjusted per-share earnings came to 11 cents, below the FactSet consensus of 18 cents. Revenue fell to $3.684 billion from $5.041 billion, also below the FactSet consensus of $3.80 billion. “As we enter 2019, our priorities are focused on achieving important milestones to ramp-up production from our large-scale underground assets in the Grasberg minerals district, continuing our focus on productivity and cost management, advancing the Lone Star project and defining future growth options from our large portfolio of reserves and resources,” Chief Executive Richard Adkerson said in a statement. The company sold 785 million pounds of copper, 266 thousand ounces of gold and 24 million pounds of molybdenum in the quarter. Shares fell 5% in premarket trade.