Copper prices surged to its highest level in a month Tuesday as a disappointing jobs report eased concerns that the Federal Reserve would slow stimulus efforts. On Tuesday, the U.S. Labor Department reported nonfarm payrolls grew by 148,000 in September, which was short of economists’ forecast of 180,000 jobs. Prices also surged Monday after customs data from China showed Chinese imports of copper grew to a 19-month high in September.
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) shares traded in the range of $36.00 to $36.78 Tuesday before settling to close at $36.34, an increase of 3.71 percent. The stock appears to have some support at the $36.00, $35.23 and $34.86 levels. Shares of Freeport-McMoRan Copper & Gold have gained approximately 6.0 percent in 2013.
More information on Freeport-McMoRan and access to the free equity report can be found at:
www.WallStreetFundamentals.com/FCX
Southern Copper Corp. (NYSE: SCCO) shares traded in the range of $28.73 to $29.74 Tuesday before settling to close at $29.53, an increase of 3.80 percent. The stock appears to be facing some resistance at the $29.47 and $30.33 levels with some support at $29.12. Shares of Southern Copper have fallen approximately 22.0 percent in 2013.
More information on Southern Copper and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SCCO
Thompson Creek Metals Company Inc. (NYSE: TC)(TSX: TCM) shares traded in the range of $3.21 to $3.35 Tuesday before settling to close at $3.33, an increase of 3.74 percent. The stock appears to be facing some resistance at the $3.29 and $3.41 levels with some support at $3.22. Shares of Thompson Creek Metals have gained approximately 66.0 percent in 2013.
More information on Thompson Creek Metals and access to the free equity report can be found at:
www.WallStreetFundamentals.com/TC
Teck Resources Ltd. (NYSE: TCK) shares traded in the range of $28.03 to $29.06 Tuesday before settling to close at $28.90, an increase of 4.41 percent. The stock appears to be facing resistance at $29.21 with some support at the $28.23 and $27.75 levels. Shares of Teck Resources have fallen approximately 20.0 percent in 2013.
More information on Teck Resources and access to the free equity report can be found at:
www.WallStreetFundamentals.com/TCK
Wall Street Fundamentals offers our members a full range of investor services including in-depth equity reports on your favorite companies and timely market updates featuring the hottest stocks trending in the marketplace.
Activate your always free membership by signing up at www.WallStreetFundamentals.com today.
Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
Contact:
Wall Street Fundamentals
Website: www.WallStreetFundamentals.com
Email: editor@wallstreetfundamentals.com