Gold and most gold miner stocks are down this year but one miner is starting to shine. Will it last?
Since the start of 2013, gold is down 20%. The story is even worse for gold miners when measured using the Market Vectors Gold Miners ETF (the GDX). That ETF is down nearly 46% year-to-date. But Freeport-McMoran, a mining company not in the GDX, is up nearly 7% since January 1st.
One of the reasons Freeport-McMoran isn't in the gold miners' ETF may have to do with the fact that it's not just a gold miner.
"We have to remember that with Freeport-McMoran, a lot of their revenue this quarter came from their performance in copper," says CNBC contributor Gina Sanchez, founder of Chantico Global. "They were able to beat the market in terms of the price at which they sold copper, and they were able to produce it for less. That is a win-win scenario."
For the first eight months of 2013, Freeport-McMoran and copper tradedRead More »from Why this gold miner is one of the few up this year