Southern Copper (PCU) NewsBite - Copper Futures Pull Down PCU

Posted: Friday, October 10, 2008 1:54 PM EDT

Southern Copper (NYSE: PCU) opened at $10.75. So far today, the stock has hit a low of $9.60 and a high of $11.69. PCU is now trading at $10.76, down $0.94 (-8.03%). Over the last 52 weeks the stock has ranged from a low of $11.38 to a high of $47.75. Shares of PCU are trading lower today, hurt by falling copper futures. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for PCU. If you are looking for a hedged play on PCU the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 12.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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