(FCX) - Freeport-McMoRan Copper & Gold, Inc - Compared to the prior-year period, earnings soared 83.7%

Freeport-McMoRan Copper & Gold, Inc. (FCX), which was first presented on May 17, topped the Street's earnings estimate for the past eight quarters by an average margin of 16.2%. Consensus estimates have been trending higher. Earnings per share are forecasted to grow 35% over the next 3-5 years. FCX has a current dividend yield of 2.2% and a five-year average dividend yield of 1.5%. Full Analysis Freeport-McMoRan Copper & Gold, Inc. engages in the exploration, mining and production of copper, gold and silver. The company's operations are conducted through its subsidiaries, PT Freeport Indonesia, PT Irja Eastern Minerals and Atlantic Copper, S.A. When FCX was first featured as a Growth and Income stock on May 17, it had exceeded analysts' earnings estimates for six consecutive quarters. Over the past two quarters, the company surprised to the upside yet again. For the past eight quarters, FCX's average margin of surprise was 16.2%. On Oct 17, the company posted third-quarter profits of $1.58 per share. With analysts calling for $1.50, the company beat estimates by 5.3%. Compared to the prior-year period, earnings soared 83.7%. Revenues jumped 66.8% to $1.64 billion from $983.3 million a year ago. For the first nine months of the year, profits ballooned 105.7% and revenues rose 51.9%. FCX increased revenues for the past four years and grew profits for five years running. Consensus estimates for this quarter and next quarter are up 11.0% and 32.4%, respectively, over the past 90 days. Profit forecasts for the full years of 2006 and 2007 jumped 3.2% and 13.1%, respectively, over the same period of time. Earnings per share are forecasted to grow 35% over the next 3-5 years, which crushes the 15% projected growth rate of the industry. The Board of Directors declared a quarterly cash dividend of 31.25 cents per common share of stock on Oct 4. Furthermore, on Aug 1, the Board announced a supplemental common stock dividend of 75 cents per share. The supplemental dividend was paid in addition to the company's regular quarterly dividend. FCX has a current dividend yield of 2.2% and a five-year average dividend yield of 1.5%. FCX is a Zacks #2 Rank (Buy) stock. Zacks #2 Rank stocks have generated an average annual return of 21.6% since 1988. Because the Zacks Rank has a market cap bias, Growth & Income investors may find a greater number of large-cap stocks by considering both Zacks #1 Rank (Strong Buy) and Zacks #2 Rank (Buy) stocks in their selection criteria. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions. | Blog Home| VitalStocks Home