Shares in copper miner Freeport-McMoRan (NYSE: FCX) rose 14.1% in December, according to data provided by S&P Global Market Intelligence. The move comes as a consequence of two related factors.

First, the price of copper moved higher again in December. After hitting a low of $3.55 per pound in October, the price moved higher through November and then December, hitting a peak of $3.93, and at the time of writing, it stands at $3.85.

While it's never a good idea to get too wrapped up in short-term price movements, the reality is Freeport-McMoRan's earnings and cash flow are highly sensitive to movements in the price of copper.

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Source Fool.com