Mining and metals stocks rally as copper prices touch 3-year high; Freeport leads gainers with 4.7% gain


Shares of mining and metals companies were key gainers Tuesday, led by Freeport-McMoRan Inc.

FCX, +3.33%

as copper prices hit a three-year high. Base metals prices have been on a tear as speculators and funds pour money into the asset class. Freeport shares gained 4.7%, bringing their week-to-date gains to 8.8%. Century Aluminum Co.

CENX, +3.46%

gained 3.8%, Alcoa Corp.

AA, +3.16%

added 2.3% and Arconic Inc.

ARNC, +3.49%

rose 3.8%. BHP Billiton Ltd.

BHP, +1.78%

was up 2.3% and Rio Tinto Plc

RIO, +2.15%

added 2.3%. Teck Resources Ltd.

TECK, +0.80%

rose 1.2%. The S&P 500

SPX, +0.64%

was up 0.6%.