UPDATE: BMO Capital Markets Initiates Coverage on Southern Copper on Significant Production Volumes, Elevated Risk Profile
In a report published Wednesday, BMO Capital Markets analyst Aleksandra Bukacheva initiated coverage on Southern Copper Corp. (NYSE: SCCO) with a Market Perform rating and $30.00 price target.
In the report, BMO Capital Markets analyst “BMO Research is initiating coverage of Southern Copper with a Market Perform rating and a US$30.00 per share target price. (1) Significant Production Volumes at a Healthy Margin – Southern Copper is the largest publicly traded pure-play copper producer with the largest amount of contained reserves as well as the largest proposed increase in copper production in its peer group. (2) Elevated Risk Profile – The multiple delays that SCCO is continuing to experience could frustrate the company's future plans and maintain pressure on its share price.”
Southern Copper Corp. closed on Tuesday at $28.36.
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