FBR Capital Raises Estimates, PT on Southern Copper (SCCO)

August 22, 2016 6:26 AM EDT
Get Alerts SCCO Hot Sheet
Price: $36.01 +0.45%

Rating Summary:
    4 Buy, 11 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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FBR Capital analyst Lucas Pipes reiterated an Outperform rating and raised estimates and his price target on Southern Copper (NYSE: SCCO) to $38.00 (from $33.00) following the company’s new detailed annual cost guidance provided on its 2Q16 conference call.

"Southern Copper cited assumptions of flat oil and other consumable pricing for its near-term cost estimates," Pipes commented. "Longer-term costs were guided lower on increasing low-cost production through project completion as well as greater by-product sales, with latter years also including production from Tia Maria. On these adjustments primarily, we are increasing our price target."

For an analyst ratings summary and ratings history on Southern Copper click here. For more ratings news on Southern Copper click here.

Shares of Southern Copper closed at $26.01 yesterday.

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