Freeport-McMoran Copper & Gold Inc. Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Freeport-McMoran Copper & Gold Inc. (NYSE:FCX) will unveil its latest earnings on Thursday, July 21, 2011. Freeport-McMoRan Copper & Gold Inc. is an international company that mines copper, gold and molybdenum. Will New Support Levels in Gold and Silver Hold?>>

Freeport-McMoran Copper & Gold Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of $1.36 per share, a rise of 81.3% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.44. Between one and three months ago, the average estimate moved up, but has dropped from $1.45 during the last month. For the year, analysts are projecting net income of $6.02 per share, a rise of 29.7% from last year.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 31 cents, reporting profit of $1.57 per share against a mean estimate of net income of $1.26 per share.

Savvy Investing Tip: Our CHEAT SHEET investing framework recommends only stocks with two straight quarters of earnings growth. Learn More >>

Wall St. Revenue Expectations: On average, analysts predict $5.76 billion in revenue this quarter, a rise of 49.2% from the year ago quarter. Analysts are forecasting total revenue of $23.45 billion for the year, a rise of 23.6% from last year’s revenue of $18.98 billion.

Analyst Ratings: Analysts are bullish on this stock with 13 analysts rating it as a buy, one rating it as a sell and two rating it as a hold.

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 58.6% while it rose 52% in the fourth quarter of the last fiscal year and 20.3% in the third quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased 30.9% to $5.71 billion in first quarter. The figure rose 21.5% in the fourth quarter of the last fiscal year from the year earlier, climbed 24.3% in the third quarter of the last fiscal year from the year-ago quarter and 4.9% in the second quarter of the last fiscal year.

Competitors to Watch: Southern Copper Corp. (NYSE:SCCO), Rio Tinto plc (NYSE:RIO), Newmont Mining Corporation (NYSE:NEM), Taseko Mines Limited (AMEX:TGB), HudBay Minerals Inc. (NYSE:HBM), Alcoa Inc. (NYSE:AA), SPDR Gold Trust (NYSE:GLD), Royal Gold, Inc. (NASDAQ:RGLD), Augusta Resource Corp. (AMEX:AZC), and Vista Gold Corp. (AMEX:VGZ).

Stock Price Performance: During June 16, 2011 to July 15, 2011, the stock price had risen $7.71 (16.2%) from $47.63 to $55.34. The stock price saw one of its best stretches over the last year between November 26, 2010 and December 7, 2010 when shares rose for eight-straight days, rising 13% (+$6.27) over that span. It saw one of its worst periods between April 7, 2011 and April 18, 2011 when shares fell for eight-straight days, falling 11.5% (-$6.53) over that span. Shares are down $3.90 (-6.6%) year to date.

(Source: Xignite Financials)

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