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Lundin Mining (TSX:LUN) has been a huge winner over the last few months. The price of copper has risen steadily higher, with shares of Lundin stock rising right along with it.
And yet, most recently shares of Lundin stock dropped down. So, let’s look at what happened and whether now could be a great time to get in on this copper producer or sign of more drops to come.
What happened?
It actually hasn’t been anything to do with Lundin stock. The company has been seeing its share price rise as the price of copper rises as well. And this has been the reverse as well.
China, the world’s biggest consumer of copper, has seen a slowdown in its economy, particularly in the construction and manufacturing sectors. This means there’s less demand for copper, which drives the price down.
What’s more, the United States dollar has been getting stronger recently. This makes copper more expensive for…
