Freeport-McMoRan (FCX) Surges 7.6%: Is This an Indication of Further Gains?

Freeport-McMoRan (FCX) shares ended the last trading session 7.6% higher at $43.41. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.1% gain over the past four weeks.FCX’s rally appears to be driven by a surge in copper prices as China’s biggest copper smelters agreed to reduce production. Copper prices surged to their highest level in seven months in London yesterday after Chinese smelters agreed on a joint prod ...