UPDATE: UBS Downgrades Southern Copper (SCCO) to Sell
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Rating Summary:
3 Buy, 11 Hold, 9 Sell
Rating Trend:

Today's Overall Ratings:
Up: 10 | Down: 32 | New: 9
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UBS analyst Andreas Bokkenheuser downgraded Southern Copper (NYSE: SCCO) from Neutral to Sell with a price target of $65.00 (from $60.00).
The analyst comments "We downgrade SCCO to Sell from Neutral in anticipation of a rebalancing of the copper market into 2H21. This is driven by a demand growth deceleration in China and RoW coupled with a normalization in supply, hereunder South American Concentrate and global scrap supply. We estimate copper prices will correct from US$4.23/lb spot currently to US$3.50/lb by 4Q21 followed by US$3.30/lb in 2022."
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 $74.51 yesterday.
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