UBS Downgrades Southern Copper (PCU) to Neutral
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UBS downgrades Southern Copper (NYSE: PCU) from Buy to Neutral, citing valuation and saying the stike could be prolonged. The firm also lowered estimates and cut its price target on Southern Copper to $18.
UBS said Southern Copper is expense relative to mining peers. The firm also said strike at the Cananea mine may be longer than estimated, leading to lower production.
Southern Copper Corporation produces and sells copper, molybdenum, zinc, silver, lead, and gold.
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