Short Interest Update on Southern Copper Corporation (SCCO)

Southern Copper Corporation (SCCO) has 8,889,647 shares of shorts outstanding as on August 15, 2016, with 7 days left to cover or roll them over. On Jul 29, 2016, the open interest of short positions was 10,410,271 shares. The stock has a decent trading volume of 1,216,578 shares daily. The marginal decrease in the short positions is by -14.6%, which amounts to -1,520,624 shares. Short positions are 10.7% of the available float. The short interest information was released on Wednesday Aug 24th after the market close.

Southern Copper Corporation (NYSE:SCCO): The stock opened at $26.21 on Wednesday but the bulls could not build on the opening and the stock topped out at $26.28 for the day. The stock traded down to $25.72 during the day, due to lack of any buying support eventually closed down at $25.73 with a loss of -2.13% for the day. The stock had closed at $26.29 on the previous day. The total traded volume was 1,159,390 shares.


In a related news, Rocha Oscar Gonzalez, CEO of Southern Copper Corp/ had purchased 8,000 shares on November 27, 2015 in a transaction. The price per share was $25.91 and the total amount of the disclosed transaction was $207,280.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.

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.

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