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Friday, June 4, 2010

Freeport McMoRan (NYSE:FCX), Inmet Mining (TSE:IMN) Nearing Bottom?

Freeport McMoRan (NYSE:FCX) and Inmet Mining (TSE:IMN) were among the leaders in April to take a hit in the mining sector, as they were leading indicators as to what was about to be unleashed on the overall mining industry.

With that in mind, it is probably true that they will be among the first miners to bottom out and rebound as well ahead of the overall group of gold stocks.

This of course doesn't mean they'll soar ahead of every single company, but it does imply they'll be among the leaders there.

At this time it looks like the two companies are at or near bottom and ready to resume an upward trend.

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