Freeport-McMoran Continues To Go Higher (FCX)

Freeport-McMoran Copper & Gold, Inc. (NYSE: FCX) had an amazing run in 2009 and the stock is 3.72% higher again today. The shares are currently trading at $83.32, which represents a one year return of 211%.

According to Google Finance, "Freeport-McMoran Copper & Gold Inc. (FCX), through its wholly owned subsidiary, Phelps Dodge Corporation (Phelps Dodge) is a copper, gold and molybdenum mining company. The Company’s portfolio of assets includes the Grasberg minerals district in Indonesia, which contains single recoverable copper reserve and the single gold reserve of any mine; significant mining operations in North and South America, and the Tenke Fungurume development project in the Democratic Republic of Congo (DRC)."

There are a couple of different investment themes that are driving this stock higher. An expected rebound in global growth has been a major catalyst, as has a continued surge in copper prices.