{"id":5050,"date":"2011-07-21T17:04:54","date_gmt":"2011-07-21T21:04:54","guid":{"rendered":"http:\/\/www.pgm-blog.com\/?p=5050"},"modified":"2011-07-21T17:04:54","modified_gmt":"2011-07-21T21:04:54","slug":"freeport-mcmoran-2q-2011-profit-more-than-doubles","status":"publish","type":"post","link":"https:\/\/www.pgmcapital.com\/nl\/freeport-mcmoran-2q-2011-profit-more-than-doubles\/","title":{"rendered":"Freeport-McMoRan 2Q-2011 profit more than doubles"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.financialpost.com\/news\/mining\/4378407.bin?size=620x465\" alt=\"\" width=\"281\" height=\"211\" \/><img loading=\"lazy\" decoding=\"async\" class=\"alignright\" src=\"http:\/\/3.bp.blogspot.com\/_vk6pmysILSQ\/TUMlb8fmutI\/AAAAAAAAA6U\/uw8-NelS6k8\/s320\/Freeport%2BMcMoRan.jpg\" alt=\"\" width=\"224\" height=\"34\" \/><\/p>\n<p>Dear <strong>PGM\u00a0Capital<\/strong>, blog reader, today, Thursday, July 21st 2011, <a title=\"Freeport-McMoRan Copper &amp; Gold Inc\" href=\"http:\/\/www.fcx.com\/\" target=\"_blank\"><strong>Freeport-McMoran Copper &amp; Gold Inc<\/strong> <\/a>(NYSE: FCX) reported its Q2-2011 results.<\/p>\n<p><strong>Highlights Q2-2011 Results<\/strong>:<\/p>\n<ul>\n<li>Net income for Q2-2011, was USD 1.4 billion or US$ 1.43 \u00a0per share, compared with<br \/>\nUSD 649 million or US$ 0.70 per share in Q2-2010<\/li>\n<li>Revenue increased 50.5 percent to $5.81 billion from $3.86 billion a year ago.<\/li>\n<li>Freeport said copper prices increased 38 percent in the second quarter to $4.22 per pound while gold prices increased 22 percent to $1,509 per ounce. Molybdenum prices slipped by 2 cents to $18.16 per pound. Freeport capitalized on the price increases by cranking up production 4 percent for copper and 11 percent for gold.<\/li>\n<\/ul>\n<div><a title=\"Freeport-McMoRan Copper &amp; Gold Inc.   Reports Second-Quarter and Six-Month 2011 Results\" href=\"http:\/\/www.fcx.com\/news\/2011\/072111.pdf\" target=\"_blank\"><strong>Source:<\/strong><\/a><\/div>\n<div>\n<div>We believe that Freeport McMoran as leading producer of Gold &amp; Copper, which\u00a0operates\u00a0about 90% of Indonesian <a title=\"The Grasberg Mine \" href=\"http:\/\/en.wikipedia.org\/wiki\/Grasberg_mine\" target=\"_blank\">Grasberg <\/a>mine, the largest\u00a0<a title=\"Gold mine\" href=\"http:\/\/en.wikipedia.org\/wiki\/Gold_mine\">gold mine<\/a>\u00a0and the third largest\u00a0<a title=\"Copper mine\" href=\"http:\/\/en.wikipedia.org\/wiki\/Copper_mine\">copper mine<\/a>\u00a0in the world., will have all the potential to\u00a0profit maximum from the increasing demand for Copper &amp; Gold.<\/div>\n<div>Here below you&#8217;ll find a 2 year chart of Freeport McMoran Copper &amp; Gold<\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-5068\" title=\"Freeport Mc MoRan Copper &amp; Gold 2 year Chart July 21 2011\" src=\"http:\/\/www.pgm-blog.com\/wp-content\/uploads\/2011\/07\/Freeport-Mc-MoRan-Copper-Gold-2-year-Chart-July-21-20111.png\" alt=\"\" width=\"555\" height=\"242\" \/><\/p>\n<\/div>\n<div>\n<div><strong>Disclosure:<\/strong><br \/>\n<em>We own Freeport McMoRan Copper &amp; Gold in our personal \u00a0portfolio since June 2009.<\/em><\/div>\n<div>\n<p>Last but not least, please consider before investing your risk tolerance and investment horizon and keep in mind that the price of commodities &amp; precious metals, like copper &amp; gold, as well as the stock of their producers can be very volatile and that sharp correction might happen in the short time.<\/p>\n<p>Yours sincerely<\/p>\n<p>Eric Panneflek<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dear PGM\u00a0Capital, blog reader, today, Thursday, July 21st 2011, Freeport-McMoran Copper &amp; Gold Inc (NYSE: FCX) reported its Q2-2011 results. Highlights Q2-2011 Results: Net income for Q2-2011, was USD 1.4 billion or US$ 1.43 \u00a0per share, compared with USD 649 million or US$ 0.70 per share in Q2-2010 Revenue increased 50.5 percent to $5.81 billion<a href=\"https:\/\/www.pgmcapital.com\/nl\/freeport-mcmoran-2q-2011-profit-more-than-doubles\/\">[&#8230;]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,8,23,9,10,19,12,15,16,1,18],"tags":[],"class_list":["post-5050","post","type-post","status-publish","format-standard","hentry","category-commodities","category-debt-crisis","category-earnings-report","category-emerging-markets","category-eric-panneflek","category-financial-news","category-inflation","category-pgm-capital","category-precious-metal","category-uncategorized","category-world-economic-outlook"],"_links":{"self":[{"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/posts\/5050","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/comments?post=5050"}],"version-history":[{"count":0,"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/posts\/5050\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/media?parent=5050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/categories?post=5050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/tags?post=5050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}