Miners See Upside on China Rate Hike (GG, SHZ, AU, REE, More)
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Markets are up overall, but miners in particular are seeing a good day following the 0.25% rate hike in China, announced today.
Venerable rare earth favorites like Molycorp, Inc. (NYSE: MCP), China Shen Zhou (NYSE: SHZ) and Rare Element Resources (NYSE: REE) are up between 2-5%. The stocks en fuego since last year when China said that they were cutting exports of rare earth minerals in 2011.
Gold miners are also seeing upside, as investors may look to hedge inflation in China with the precious metal. AngloGold Ashanti Ltd. (NYSE: AU) is up 3%, Goldcorp Inc. (NYSE: GG) is up 4.3%, Agnico-Eagle Mines Ltd. (NYSE: AEM) is 3.4% better, and Barrick Gold Corporation (NYSE: ABX) is 1.8% stronger.
Silver miners are also seeing interest. Silver Wheaton Corp. (NYSE: SLW) is up 3% and Coeur d'Alene Mines (NYSE: CDE) is up 4%.
Copper miner Freeport-McMoRan (NYSE: FCX) is being left in the lurch. Share are down 0.3% today to $55.45.
Venerable rare earth favorites like Molycorp, Inc. (NYSE: MCP), China Shen Zhou (NYSE: SHZ) and Rare Element Resources (NYSE: REE) are up between 2-5%. The stocks en fuego since last year when China said that they were cutting exports of rare earth minerals in 2011.
Gold miners are also seeing upside, as investors may look to hedge inflation in China with the precious metal. AngloGold Ashanti Ltd. (NYSE: AU) is up 3%, Goldcorp Inc. (NYSE: GG) is up 4.3%, Agnico-Eagle Mines Ltd. (NYSE: AEM) is 3.4% better, and Barrick Gold Corporation (NYSE: ABX) is 1.8% stronger.
Silver miners are also seeing interest. Silver Wheaton Corp. (NYSE: SLW) is up 3% and Coeur d'Alene Mines (NYSE: CDE) is up 4%.
Copper miner Freeport-McMoRan (NYSE: FCX) is being left in the lurch. Share are down 0.3% today to $55.45.
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