BUZZ-Copper miners: Stocks gain as metal's price hits 4-wk high

Tue Sep 8, 2015 1:12pm EDT
 
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** Copper surges to 4-week high, boosted by data showing healthy Chinese imports and a bounce in its equity markets

** Copper closes up 3.8 pct at $5,345/tonne, up nearly 8 pct since plunging to 6-year lows below $5,000/tonne on Aug. 24

** Price recovery bodes well for North American copper miners, battered by weak prices for most of the year

** First Quantum Minerals Ltd surges 16.5 pct to C$7.23

** Teck Resources up 8.2 pct at C$8.84; U.S.-listed stock up 8.6 pct at $6.69

** Freeport-McMoRan Inc up 6 pct at $10.31, also gets boost from reports that the company had hired JPMorgan to help explore options

** Through Friday, Teck had gained 6.3 pct, First Quantum lost 4.6 pct and Freeport gained nearly 12 pct since Aug. 24

** Still, including Tuesday's gains, all three stock are down more than 50 pct this year, while copper is down 15 pct

** Factbox-Miners bite the bullet on copper output cuts