Mining Stock Pops on Upgrade, Surging Copper Prices

Freeport-McMoRan Inc (NYSE:FCX) stock is up 1.2% to trade at $39.33 at last glance, after the gold and copper miner received an upgrade from UBS to "buy" from "neutral." The analyst in question also raised the equity's price-target hike to $48 from $42.50 -- a 23.5% premium to yesterday's close. What's more, the mining sector is benefitting from surging copper prices today, which earlier hit a 16-month high. The brokerage bunch leaned bullish toward FCX coming into today, with 12 of the 19 firms in question ...