Is Southern Copper Corp’s Fuel For Real? The Stock Was Bought By Option Traders

 Is Southern Copper Corp's Fuel For Real? The Stock Was Bought By Option Traders

In today’s session Southern Copper Corp (SCCO) registered an unusually high (141) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious SCCO increase. With 141 contracts traded and 1574 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: SCCO170120C00029000 closed last at: $1.4 or 47.4% up. About 1.94M shares traded hands or 90.20% up from the average. Southern Copper Corp (NYSE:SCCO) has risen 14.35% since April 8, 2016 and is uptrending. It has outperformed by 8.70% the S&P500.

Southern Copper Corp (NYSE:SCCO) Ratings Coverage

Out of 10 analysts covering Southern Copper (NYSE:SCCO), 2 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 20% are positive. Southern Copper has been the topic of 17 analyst reports since August 5, 2015 according to StockzIntelligence Inc. As per Tuesday, December 8, the company rating was downgraded by Santander. As per Tuesday, May 3, the company rating was maintained by Cowen & Co. The company was downgraded on Wednesday, March 23 by BMO Capital Markets. Bank of America downgraded the shares of SCCO in a report on Tuesday, October 6 to “Underperform” rating. The company was downgraded on Friday, July 1 by Credit Suisse. Goldman Sachs initiated the stock with “Neutral” rating in Thursday, June 9 report. FBR Capital initiated Southern Copper Corp (NYSE:SCCO) rating on Friday, September 18. FBR Capital has “Outperform” rating and $34 price target. The firm has “Equal-Weight” rating by Barclays Capital given on Tuesday, January 12. JP Morgan downgraded it to “Neutral” rating and $31.50 target price in Monday, August 31 report. The rating was maintained by Cowen & Co on Wednesday, August 5 with “Market Perform”.

According to Zacks Investment Research, “Southern Copper Corporation is a mining metallurgical company, producer of copper and valuable by-products.”

Insitutional Activity: The institutional sentiment decreased to 0.54 in Q2 2016. Its down 0.12, from 0.66 in 2016Q1. The ratio dropped, as 26 funds sold all Southern Copper Corp shares owned while 102 reduced positions. 23 funds bought stakes while 46 increased positions. They now own 45.01 million shares or 16.46% less from 53.88 million shares in 2016Q1.
Verition Fund Mngmt Ltd has 26,318 shares for 0.09% of their US portfolio. California State Teachers Retirement Systems last reported 0.01% of its portfolio in the stock. Tci Wealth has invested 0.01% of its portfolio in Southern Copper Corp (NYSE:SCCO). Cambridge Rech Advsr owns 9,744 shares or 0.01% of their US portfolio. Commercial Bank Of Montreal Can last reported 0% of its portfolio in the stock. Whittier Of Nevada Inc holds 0% or 164 shares in its portfolio. Price T Rowe Assoc Md accumulated 3.44M shares or 0.02% of the stock. Vanguard Gp reported 763,769 shares or 0% of all its holdings. Royal Retail Bank Of Canada has 0% invested in the company for 69,370 shares. Moreover, Kanaly has 0% invested in Southern Copper Corp (NYSE:SCCO) for 29 shares. Jane Street Gp Ltd Liability Corporation accumulated 0.01% or 93,450 shares. Teacher Retirement Systems Of Texas, a Texas-based fund reported 12,308 shares. Henderson Pcl last reported 5,817 shares in the company. Winslow Evans Crocker reported 80 shares or 0% of all its holdings. Aviva Plc has 108,170 shares for 0.02% of their US portfolio.

Southern Copper Corporation is an integrated copper producer. The company has a market cap of $25.77 billion. It produces copper, molybdenum, zinc and silver. It has a 37.65 P/E ratio. It operates through three divisions: Peruvian operations, which include the Toquepala and Cuajone mine complexes and the smelting and refining plants, including a metals plant industrial railroad and port facilities that service both mines; Mexican open-pit operations, which include the La Caridad and Buenavista mine complexes and the smelting and refining plants, including a metals plant and a copper rod plant and support facilities that service both mines, and Mexican underground mining operations, which include over five underground mines that produce zinc, copper, silver and gold, a coal mine that produces coal and coke, and a zinc refinery.

SCCO Company Profile

Southern Copper Corporation, incorporated on September 7, 1995, is an integrated copper producer. The Firm produces copper, molybdenum, zinc and silver. The Firm operates in three divisions: Peruvian operations, Mexican open-pit activities and Mexican underground mining operations. The Peruvian activities segment includes the Toquepala and Cuajone mine complexes and the smelting and refining plants, including a metals plant industrial railroad and port facilities that service both mines. The Mexican open-pit activities segment includes the La Caridad and Buenavista mine complexes and the smelting and refining plants, including a metals plant and a copper rod plant and support facilities that service both mines. The Mexican underground mining activities segment includes over five underground mines that produce zinc, copper, silver and gold, a coal mine and a zinc refinery. The Company’s activities include open-pit and underground mining, concentrating, copper smelting, copper refining, copper rod production, solvent extraction/electrowinning (SX-EW), zinc refining, sulfuric acid production, molybdenum concentrate production, and silver and gold refining.

More news for Southern Copper Corp (NYSE:SCCO) were recently published by: Fool.com, which released: “Why Southern Copper Corp. Stock Rose 15.7% in March” on April 10, 2016. Seekingalpha.com‘s article titled: “Southern Copper Corp. Is Going Down” and published on August 22, 2016 is yet another important article.

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