Southern Copper Corporation (NYSE:SCCO) has witnessed a drop of 8.7% or 992,951 shares in its short figure. The short interest diminution took it from 11,467,244 on May 31,2016 to 10,474,293 on June 15,2016. In terms of floated shares, the short interest was calculated to be 12.6%. The days to cover are 9 given that the daily volume averaged 1,128,112 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Southern Copper Corporation (NYSE:SCCO): The stock opened at $26.00 on Friday but the bulls could not build on the opening and the stock topped out at $27.11 for the day. The stock traded down to $25.54 during the day, due to lack of any buying support eventually closed down at $25.56 with a loss of -8.71% for the day. The stock had closed at $28.00 on the previous day. The total traded volume was 4,345,720 shares.
The company shares have dropped -15.36% from its 1 Year high price. On Apr 28, 2016, the shares registered one year high at $31.31 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $26.81 and the 200 Day Moving Average price is recorded at $26.33.
Southern Copper Corporation (NYSE:SCCO) has tumbled 3.87% during the past week and has dropped 3.95% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 2.28%. Southern Copper Corporation (NYSE:SCCO) has underperformed the index by 1.04% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Southern Copper Corporation is a copper producer. The Company produces copper, molybdenum, zinc and silver. The Company operates in three segments: Peruvian operations, Mexican open-pit operations and Mexican IMMSA unit. Peruvian operations segment includes the Toquepala and Cuajone mine complexes and the smelting and refining plants, including a precious metals plant industrial railroad and port facilities that service both mines. Mexican open-pit operations segment includes the La Caridad and Buenavista mine complexes and the smelting and refining plants, including a precious metals plant and a copper rod plant and support facilities that service both mines. Mexican IMMSA unit segment includes five underground mines. Its operations include open-pit and underground mining, concentrating, copper smelting, copper refining, copper rod production, solvent extraction/electrowinning, zinc refining, sulfuric acid production, molybdenum concentrate production and silver and gold refining.