More on Freeport McMoRan's (FCX) Q1 results: Copper production rose 18% while copper prices fell 8.1%. Costs and expenses rose 12% to $3.2B. Lowers 2013 operating cash flow guidance to $5.5B, down from $7B, based on current sales volume and cost estimates and assuming average prices of $3.25/lb. for copper, $1,400/oz. for gold and $11/lb. for molybdenum for the rest of 2013. FCX +0.8% premarket.