2012-01-22 18:32:59
Freeport-McMoRan Copper & Gold Inc. ( FCX ) said Thursday 1/29/2012, its fouth-quarter profit fell to $640 million, or 67 cents a share, from $1.5 billion, vs. $1.63 a share in the year-ago period. Revenue dropped to $4.16 billion, from $5.6 billion. Wall Street analysts expected the company to earn 61 cents a share on revenue of $3.85 billion. Freeport-McMoRan said its results were impacted by a strike at its Grasberg mine in Indonesia, but that the dispute has now been resolved. "We are continuing to advance our growth projects which are expected to result in meaningful increases to copper... production in future periods ... ," the company said. "Our exploration programs continue to identify opportunities to grow our reserve base. We ended the year with significantly more cash than debt and have a positive outlook for the future prospects of our business."
I especially like the " ... significantly more cash than debt ..." part.
| With Zacks Method for Trading you'll transform yourself into a Master Stock Trader, one simple step at a time. Get step-by-step instructions and learn how to use the 28% per year Zacks Rank system to find market-beating stocks on your own, fully exploiting the system that beat the market 18 of the last 20 years. Find out how >> |
| Make Big Bucks promoting Zacks products on your website! Click here to Learn about Zacks' Affiliate program. |
| Take advantage of quick short-term moves, and profit from price moves in any direction. Trade options under the direction of an expert guide. Try it now and get a 90-day unconditional money-back guarantee. 50% OFF for a limited time! Zacks Options Trader >> |
| Zacks Top Ten Stocks for 2011 are now available! This 10-stock portfolio is a well-balanced mix of aggressive and conservative, large and small cap, growth and value. Buy them. Hold them. Watch your gains add up |
|
Ride Momentum Stocks to Quick Gains! The market is finally breaking out, creating the perfectd wave for investing in momentum stocks. Zacks is the king of fundamental analysis, but this service also uses technical indicators for the best possible timing. Click here to learn more >>. |
| Find Winning Stocks Quickly with Research Wizard, a powerful desktop software program. Start with easy-to-use pre-loaded strategies, then develop your own. Backtest against years of historical data to see how your approach works in any market. Start a Free Trial Today >> |
Think about it. The price of gold is an equation factoring in the gold locked in the Ft. Knox's of the world, the ETF's and the the average joe and jane with their wedding bands, neck chains, ... rings and bling.
( 1) There are about 7 billion people on the planet, if everyone wants 1 troy ounce of gold ... how many people have NONE? What price would the people who have none be willing to pay?
( 2) Now when the global population get to the projected 10 billion ... if everyone wants 1 troy ounce of gold ... how many people have NONE? What price would the people who have none be willing to pay?
That's the "What if?" math.