By selling the puts to open, the speculators are expecting the $31 level to hold as support for Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) through the close on Friday, May 16. In this best-case scenario, the options will expire worthless, and the traders can retain the initial net credit as their full potential reward. However, yesterday’s activity could also be reflective of investors hoping to scoop up shares of FCX on a dip, establishing $31 as an ideal entry point. Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) stock opened at $30.81 in last session, and closed at $30.77, while the day range of FCX stock is $30.74-$31.43. The stock showed a positive weekly performance of -9.26%.
Southern Copper (NYSE:SCCO) follows with a loss of 1.93% and BHP Billiton (NYSE:BHP) rounds out the bottom five with a loss of 1.65%.Walter Energy, Inc. mines coal. The Company produces metallurgical and steam and industrial coal,, manufactures blast furnace, foundry, industrial and buckwheat coke, and produces light oil, coal tar, and ammonium sulfate. Walter Energy also degasifies coalbeds and sells the gas to a utility. Southern Copper Corp (NYSE:SCCO) stock opened at $27.43, in last session and closed at $27.71, by gained 0.98%. The 52 week range was $24.50-$38.24.Company’s market capitalization is $23.01 billion.
Nevsun Resources (USA) (NYSEMKT:NSU) has no debt and pays dividends at par with industry peers. Lastly the company paid semi-annual cash dividend of $0.07 per share during July 2013, marking a significant increase of around 133% from its first announced dividend of $0.03 per share in May 2011 and a remarkable 40% increase from its previously paid dividend of $0.05 per share in January 2013. To notice, the company declared the first dividend only three months after declaring commercial production at the Bisha Mine. Nevsun Resources (USA) (NYSEMKT:NSU) stock loosed -1.38% and finished the last session at $3.57. The EPS of the stock remained 0.18. Company’s market capitalization is $711.53 million.
Augusta Resource Corp. (USA) (NYSEMKT:AZC) said this week that it expects to receive its final required permit for Rosemont in H1 of this year, while HBM contends the permitting process will take much longer and could cause serious liquidity problems, noting that a $109M loan comes due in July. Augusta Resource Corp. (USA) (NYSEMKT:AZC) stock opened the session at $2.88, and closed the session at $2.89. The 52 week range of the AZC stock remained $0.45-$3.29 and the day range was $2.82-$2.92.