Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : A to Z Junior Mining Research Site -- Ignore unavailable to you. Want to Upgrade?

To: IngotWeTrust who wrote (4149)	4/17/2003 9:48:47 AM
From: 4figureau	Read Replies (2) \| Respond to of 5423

Freeport-McMoRan swings to profit on upbeat gold Thu April 17, 2003 08:09 AM ET NEW YORK, April 17 (Reuters) - Freeport-McMoRan Copper & Gold Inc., which runs the world's biggest copper and gold mine, said Thursday first-quarter results swung to a profit thanks to higher gold prices and increased metals production. Freeport-McMoRan, which operates the vast Grasberg mine in Indonesia, posted first-quarter net income of $49.2 million, or 33 cents a share, compared with a loss of $4.2 million, or 3 cents a share, in the year-ago quarter. Analysts expected the company to earn between 30 and 36 cents a share, with a mean forecast of 32 cents a share, according to tracking firm Thomson First Call. Revenue rose to $524.6 million from $392.7 million in the prior-year quarter. The company also said it instituted a new common stock cash dividend policy of 36 cents a share annually. It will pay an initial quarterly dividend of 9 cents a share on May 1. reuters.com