Quadra FNX Mining Ltd. (QUX) gained a modest 1.80% in early afternoon trading, as investors put their money in gold and copper stocks. The fast growing mining company had been hit hard in previous months as Quadra Mining and FNX Mining combined forces. In the last 3 months however Quadra FNX Mining has risen over 56%. The company trades with a PE of 11.5 even as gold prices soar to recent highs. Gold is only a fraction of Quadra FNX’s total production however. Copper has been the real driver of the stock price, as demand from China has grown steadily. Copper sells at $3.65 a pound and continues to reach recent highs day by day.
“Quadra FNX Mining is an excellent way to play the rise in copper.” Said Andy Kibbens CEO of The Markets Are Open. “As China develops their infrastructure they will need massive amounts of copper. Quadra is the place to be.”
To read Kibbens’ full report click here.
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