What’s in Southern Copper Corp After Today’s Bullish Options Activity?

 What's in Southern Copper Corp After Today's Bullish Options Activity?

In today’s session Southern Copper Corp (SCCO) registered an unusually high (842) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious SCCO increase. With 842 contracts traded and 8094 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: SCCO161216C00034000 closed last at: $0.6 or 100% up. The stock increased 1.52% or $0.5 on November 23, hitting $33.43. About 1.63 million shares traded hands or 19.85% up from the average. Southern Copper Corp (NYSE:SCCO) has risen 14.53% since April 22, 2016 and is uptrending. It has outperformed by 9.12% the S&P500.

Analysts await Southern Copper Corp (NYSE:SCCO) to report earnings on February, 24. SCCO’s profit will be $193.91M for 34.82 P/E if the $0.24 EPS becomes a reality. After $0.26 actual EPS reported by Southern Copper Corp for the previous quarter, Wall Street now forecasts -7.69% negative EPS growth.

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. FBR Capital initiated Southern Copper Corp (NYSE:SCCO) on Friday, September 18 with “Outperform” rating. The stock of Southern Copper Corp (NYSE:SCCO) earned “Neutral” rating by JP Morgan on Monday, August 31. BMO Capital Markets downgraded the shares of SCCO in a report on Wednesday, March 23 to “Market Perform” rating. Bank of America downgraded Southern Copper Corp (NYSE:SCCO) on Tuesday, October 6 to “Underperform” rating. The rating was downgraded by Santander on Tuesday, December 8 to “Hold”. The company was downgraded on Friday, October 16 by HSBC. The firm has “Market Perform” rating given on Wednesday, August 5 by Cowen & Co. On Tuesday, May 3 the stock rating was maintained by Cowen & Co with “Market Perform”. As per Friday, August 26, the company rating was upgraded by HSBC. FBR Capital maintained Southern Copper Corp (NYSE:SCCO) on Monday, August 22 with “Outperform” rating.

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 increased to 0.71 in 2016 Q2. Its up 0.17, from 0.54 in 2016Q1. The ratio increased, 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.
Pear Tree Advsr Inc last reported 5,250 shares in the company. Legal & General Gru Pcl reported 766,131 shares or 0.02% of all its holdings. Art Advsrs Lc owns 96,331 shares or 0.13% of their US portfolio. Dimensional Fund Advsr Limited Partnership, a Texas-based fund reported 307,643 shares. First National Com has 0.05% invested in the company for 13,000 shares. Blackrock Institutional Na has 1.88M shares for 0.01% of their US portfolio. Pictet Asset Management Limited reported 113,271 shares or 0.01% of all its holdings. Prudential Fin accumulated 0% or 37,369 shares. American Interest Grp Inc has invested 0% of its portfolio in Southern Copper Corp (NYSE:SCCO). Morgan Stanley holds 0% of its portfolio in Southern Copper Corp (NYSE:SCCO) for 213,520 shares. Flow Traders Us Lc last reported 5,528 shares in the company. Metropolitan Life Insur holds 4,169 shares or 0% of its portfolio. State Of New Jersey Common Pension Fund D accumulated 10,710 shares or 0% of the stock. Kanaly Trust reported 29 shares or 0% of all its holdings. Jefferies Grp Inc Limited Liability Company last reported 0% of its portfolio in the stock.

Southern Copper Corporation is an integrated copper producer. The company has a market cap of $27.01 billion. It produces copper, molybdenum, zinc and silver. It has a 38.91 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.

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