Mining Shares Bucking The Trend (SCCO, FCX, NEM)

Shares of mining companies are continuing the impressive move which they began yesterday afternoon. Despite a neutral overall market, Freeport McMoRan FCX, Newmont Mining Corp NEM, and Southern Copper SCCO are showing strength as copper futures are holding a 0.3% gain. Freeport is holding above yesterday's high of $55.31, currently trading up 1.15% at $55.87. A bounce off of its 20- and 50-day moving averages yesterday looks to be providing strong support. Newmont is trading 1% higher at $54.69. Shares of the company are sitting just below the 50-day moving average which it hasn't been able to close above since February 24th. Southern Copper is putting in a modest gain of 0.6% currently trading at $40.50. The stock is stuck between its 20- and 200-day moving average and looking for a break in either direction.