- Mining stocks hit hard in 2015 are the darlings of the new year, as the drag on the dollar due to fresh jitters about the strength of the U.S. economy has helped power the group higher.
- The dollar’s weakness has helped fuel the recent bounce in commodities: Iron ore, which sank 40% in 2015, has gained 14% since mid-January, while copper prices, which hit their lowest levels since early 2009 in mid-January, are up 10%.
- A glimmer of hope about China and global growth could signal a bottom for commodities and mining stocks, Bernstein's Paul Gait says, but other analysts caution that the rally could be a “bull trap" - a brief bounce before another dive into the red.
- Relevant tickers: FCX, OTCQX:AAUKF, OTCPK:AAUKY, OTCPK:GLCNF, OTCPK:GLNCY, BHP, RIO, VALE