Southern Copper Corporation to Maintain Hold Rating in 2010 (PCU)

Citi analyst Alexander Hacking recommends a hold rating for Southern Copper Corporation (NYSE: PCU) as the demand for copper is likely to grow in the future.

Also, demand of copper for structural purposes is set to grow in the years to come. Southern Copper Corporation produces and sells copper, molybdenum, zinc, silver, lead, and gold worldwide. The company engages in the mining, milling, and flotation of copper ore to produce copper concentrates and molybdenum concentrates. The analyst has raised his target price for Southern Copper from $35 per share to $38 per share because the copper spot prices are also set to increase in the future.