316 ANALYSIS OF THE REACTION OF MINING STOCKS TO THE DEVELOPMENT OF COPPER PRICES
Bibliographic record
Abstract
Copper is considered as one of the most important minerals in the world; however, most of the finance literature is concentrated on determining the impact of gold spot prices on mining stock prices. To fill this literature gap, we analyze the impact of changes in copper spot and future prices on the stock returns of copper mining firms. After controlling for market returns and considering a sample of high market-cap firms, we found evidence of a positive but inelastic behavior between copper stock returns and changes in copper prices. Additionally, we determined that the 2008 Global crisis influenced investors' decisions generating a negative impact on copper stock returns; however, this effect turns out to be insignificant in developed markets (New York, Toronto and London) and significant in a less developed one (Lima). Finally, our results provide evidence to reject the hypothesis of integrated markets as copper firms are positively affected by trading in a more developed market compared to the negative effect generated by trading in a less developed one.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.000 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".