Monday, March 16, 2009

Copper stock prices double from lows

Copper prices have recovered from their low of about $1.28 per pound to around $1.70 now, but still only a fraction of their $4+ high of last year. Copper producers, including Arizona-based Freeport McMoRan and Southern Copper, are seeing stock prices double on average, as a possible signal that investors treat copper as a "proxy" on the global economy, according to a report in

Freeport stock is $37.04, down 70.9% from its high but up 135.9% from its low. Southern Copper is at $16.07, down 61.7% from its high, but up 76.2% from its low.

Augusta Resources, which is developing the Rosemont copper mine south of Tucson, is at $0.82, down 88% from its high, but up 110.3% from its low. [photo credit Freeport]

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