Copper Stocks: Freeport-McMoRan Copper & Gold (NYSE:FCX), Southern Copper (NYSE:SCCO), Nevsun Resources (NYSEMKT:NSU), Augusta Resource (NYSEMKT:AZC)

Posted by on Mar 03, 2014

The country’s two largest copper miners, Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) and Newmont Mining Corp. (NYSE: NEM) have refused to pay the new tax claiming that it violates their existing contracts. Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) stock opened at $33.10 in last session, and closed at $32.62, while the day range of Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) stock is $32.41 – $33.20. The stock showed a positive weekly performance of -2.22%.

Mr. Jacob said that the Buenavista mine in Mexico will be the “main driver” of Southern Copper’s increased production this year. Southern Copper Corp (NYSE:SCCO) stock opened at $30.68 in last session, and closed at $30.51 by losing -0.62%. The 52 week range of $24.50 – $38.24. Company’s market capitalization is $25.69B.

Nevsun Resources (NYSE:NSU) saw a significant decrease in short interest in January. As of February 14th, there was short interest totalling 362,156 shares, a decrease of 13.4% from the January 31st total of 418,324 shares, AnalystRatingsNetwork.com reports. Currently, 0.2% of the company’s shares are short sold. Based on an average trading volume of 490,765 shares, the days-to-cover ratio is currently 0.7 days. Nevsun Resources (USA) (NYSEMKT:NSU) stock increased 2.11% and finished the last session at $3.87. The EPS of the stock remained 0.18. Company’s market capitalization is $771.15M.

US base metals project developer Augusta Resource Corp. (USA) (NYSEMKT:AZC) swipe at Canadian miner Hudbay Minerals’ C$540-million unsolicited all-scrip offer to acquire Augusta earlier this week, Hudbay struck back, citing several reasons to believe that Augusta’s goal of permitting the Rosemont mine, in Arizona, by mid-2014, is unrealistic. Augusta Resource Corp. (USA) (NYSEMKT:AZC) stock opened the session at $3.08, and closed the session at $3.12. The 52 week range of the Augusta Resource Corp. (USA) (NYSEMKT:AZC) stock remained $0.45 – $3.29 and the day range was $3.06 – $3.14.

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