Mining Stocks Rise

Shares of mining companies rose after Citigroup analyst John H. Hill forecast higher prices for metals. Freeport McMoran Copper & Gold Inc. (FCX) stock surged $2.50 to close at $56.19 while the price of copper mining company Phelps Dodge Corp. (PD) increased $1.47 to close at $76.61. Shares of Meridian Gold Inc. (MDG) climbed $2.34 to close at $29.13. Newmont Mining Corp. (NEM) stock gained $1.06 to close at $50.52.