Our ALGO engine has been long CIM since June 1st at $40.00.
Since then the share price has risen over 25% and traded at a 10-month high of $51.64 last week.
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In addition to posting better-then-expected profit results back in July, CIM has also secured several mining services agreements including a recent $420 million contract extension with Antofagasta Minerals in Chile.
On balance, we see the stock trading in a high-level consolidation pattern over the medium-term.
As such, we consider CIM a buy/write candidate with reasonable upside potential and increased cash flow from the sold call options.
Cimic
