Southern Copper (PCU) NewsBite - PCU Falls on Declining Copper

Wednesday, October 22, 2008 10:02 AM EDT

Southern Copper (NYSE: PCU) opened at $11.48. So far today, the stock has hit a low of $11.10 and a high of $11.51. PCU is now trading at $11.11, down $0.89 (-7.42%). Over the last 52 weeks the stock has ranged from a low of $9.60 to a high of $47.64. PCU shares are trading lower this morning, hurt by declining copper prices. 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 a December out-of-the-money bear-call credit spread above the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]

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