Southern Copper chairman buys 50,000 shares


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Bobby Raines 09/03/2014

German Larrea Mota-Velasco, the chairman of Southern Copper Corp. ( SCCO ) , bought 50,000 shares of the company's common stock on Sept. 2. At $32.56 per share, Mota-Velasco paid a total of $1,628,000 for the new shares.

IK-> The technicals for SCCO ($32.84 up $0.39) are bullish with an upward trend. Recent support has been around $31.35 and recent resistance has been near $33.00. Standard & Poor's does not follow the stock. Look at the Nov. 27/30 bull-put spread for a 25-cent credit. That's a 9.1% return and the stock has to fall 8.6% to cause a problem.  [InvestorsKeyhole, Various news and data services]

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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