Scotiabank Boosts Southern Copper (SCCO) Target, Says Upside Remains Limited

On April 23, Scotiabank expert Alfonso Salazar raised the terms proposal connected Southern Copper Corporation (NYSE:SCCO) to $133 from $125. It reiterated an Underperform rating. The steadfast said it accrued its price-to-net-asset-value aggregate for the company’s Mexican open-pit assets. Even with that change, the expert noted determination is inactive nary wide upside astatine existent levels.

On April 10, Goldman Sachs upgraded SCCO to Neutral from Sell and raised its terms people to $178 from $142.79. The steadfast said the copper scarcity premium is “larger than ever,” pointing to expectations of tighter proviso and request implicit time. It added that Southern Copper, arsenic 1 of the largest axenic copper producers with long-life reserves successful unchangeable regions, should commercialized astatine a premium to peers. The expert besides said the institution has “strong antiaircraft positioning” during a downturn, supported by its debased outgo operation and comparatively little operating leverage.

Southern Copper Corporation (NYSE:SCCO) is an integrated copper producer. It produces copper, molybdenum, zinc, and silver. Its mining, smelting, and refining operations are based successful Peru and Mexico, with exploration activities successful those countries arsenic good arsenic Argentina and Chile.

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