EdgeWater 1/22/2011 12:25:09 AM
News / Business

Copper Stocks Mostly Lower (FCX, SCCO, TGB, SLT)

Copper Stocks Mostly Lower

Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) fell 3.70% to $110.90. The company posted a 60 percent jump in quarterly profit but trimmed its sales forecast and said costs would rise. Fourth-quarter net income rose to $1.55 billion, or $3.25 per share, from $971 million, or $2.15 per share, a year earlier.

Excluding a charge to reduce debt, earnings per share were $3.26, easily beating analysts' average forecast of $3.03, according to Thomson Reuters.

Southern Copper Corporation (USA) (NYSE:SCCO) went down 3.36% to $45.15. The stock opened at $45.77 and is trading within the range of $43.78-$46.05.

Southern Copper Corporation is an integrated copper producer.

Taseko Mines Limited (USA) (AMEX:TGB) lost 5.50% to $5.50. The stock has a 52-week range of $3.31-$7.23. The stock has average daily volume of 2.22 million shares. At current market price, the market capitalization of the company stands at $1.03 billion.

Sterlite Industries India Limited (ADR) (NYSE:SLT) ended at $15.64. The stock opened at $15.56 and is trading within the range of $15.43-$15.76.

Sterlite Industries (India) Limited is a non-ferrous metals and mining company.

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