Copper Companies On the Move? FCX, SCCO, QUX

Copper giant Freeport-McMoRan (NYSE: FCX) has been ramping up day after day as copper rises to its 2008 highs. Freeport is just points off it's all time high as well as demand for the conductive metal is soaring while inventories are quickly diminishing. Southern Copper Corporation (NYSE: SCCO) hit a 52-week high today as the demand from China and India continues to grow. Junior miner Quadra FNX Mining (TSE: QUX) has lagged the bunch. The stock however is just 2 points off its 52-week high but down considerably from its all-time high of approximately $27. Quadra and the others continue to mine profits from their lucrative assets and deliver the earnings back to shareholders.

Quadra FNX Mining (TSE:QUX) Creeps Higher as Copper Rises

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.