FCX Stock Leads Mining Stock Rally; BHP Breaks Out
FCX stock, BHP (BBL), Southern Copper (SCCO) and Teck Resources (TECK) raced higher on Wednesday as the copper futures price jumped near a three-month high. The metal considered by many to be an economic bellwether seems to be signaling robust global growth ahead.
The near-term copper futures contract rose to $4.58 per pound, up about 3.5% on the day. The copper price had traded in a range of $4.35 to $4.45 over the past month before breaking to the upside.
Data released Wednesday…