Why Shares in This Hot Copper Mining Stock Soared This Week
Freeport-McMoRan(FCX) The Motley Fool·2024-09-27 19:05
China's move to stimulate its economy pleased copper bulls and Freeport McMoRan shareholders alike.Shares in copper miner Freeport McMoRan (FCX 7.45%) rose by 16.6% in the week to Friday morning. The move comes after China's central bank took some widely anticipated measures to stimulate growth in the Chinese economy. In turn, that encouraged investors to buy copper -- China is seen as the swing factor in demand for copper -- and the price of copper rallied from around $4.27 per pound at the start of the we ...