Monday, April 19, 2010

Freeport-McMoran (NYSE:FCX) Profits to Rise

Even with the pressure of increased input costs, Freeport-McMoran (NYSE:FCX) is expected to generate about $1.91 earnings per share for the first quarter. The earnings report is scheduled for Wednesday morning.

Freeport-McMoran is positioned about as strongly as any mining company, and when considering production costs and scale, will continue to be among the industry leaders.

Part of the reason for the optimism concerning the company is the rise in price of copper and gold, which should counter the rise in production costs.

With both metals expected to continue to rise in price over the long term, Freeport-McMoran should be among the top mining companies for revenue and profits years ahead.

Freeport-McMoran owns the largest gold mine in the world and the third largest copper mine, both represented by the Grasberg mine in Indonesia.

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