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UPDATE: Deutsche Bank Lowers PT on Southern Copper Following 3Q13 Preview

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In a report published Wednesday, Deutsche Bank analyst Jorge Beristain reiterated a Hold rating on Southern Copper Corp. (NYSE: SCCO), but lowered the price target from $41.00 to $36.00.

In the report, Deutsche Bank noted, “With the tide apparently having gone out for key global metals and bulk commodities, NA Metals & Mining managements will simply have to learn to make do with less free cash flow, smaller projects and smaller m&a deals than what were possible during boom times. The clarion call for managements now is to live within their Balance Sheet means. This calls for increased cooperation and heightened creativity for the funding of next generation growth projects and a tighter focus on the bottom-line. Those that heed the call should be the relative winners. Unfortunately, large debts limit flexibility and those continuing to deficit spend will risk downgrades of Investment Grade ratings.”

Southern Copper Corp. closed on Tuesday at $27.50.

Latest Ratings for SCCO

DateFirmActionFromTo
Oct 2014Bank of AmericaUpgradesUnderperformNeutral
Aug 2014JP MorganMaintainsOverweight
Aug 2014FBR CapitalDowngradesOutperformMarket Perform

View More Analyst Ratings for SCCO
View the Latest Analyst Ratings

Posted-In: Deutsche Bank Jorge BeristainAnalyst Color Price Target Analyst Ratings

 

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