(Reuters) -Miner Freeport-McMoRan beat fourth-quarter profit estimates on Thursday, as higher copper prices helped offset the impact of lower production.

Copper prices climbed in the quarter, buoyed by signs of increased stimulus in top consumer China, dwindling inventories, and accelerated U.S. job growth in September, indicating resilience in the world's largest economy.

Quarterly average realized price for copper rose to $4.15 per pound, compared with $3.81 per pound a year ago.

However, quarterly copper production fell about 5% to 1.04 billion recoverable pounds year-over-year, weighing on overall revenue.

Freeport-McMoRan ( FCX ) said it expects 4 billion pounds of copper sales for current year, marginally lower than 2024.

Shares of the company were down 3.4% in pre-market trading, weighed down by quarterly revenue miss and higher capital expenditure forecast for the year.

Lower copper prices on Thursday, also pressured company's stock.[MET/L]

On an adjusted basis, the company earned 31 cents per share in the quarter, compared with the analysts' average estimate of 20 cents per share, according to data compiled by LSEG.

The company reported a revenue of $5.72 billion for the quarter ended Dec. 31, missing analysts' average estimate of $5.88 billion, according to data compiled by LSEG.