UPDATE: Wolfe Research Starts Southern Copper (SCCO) at Outperform

Wolfe Research analyst Timna Tanners initiates coverage on Southern Copper (NYSE: SCCO) with a Outperform rating, PT $62.00.

The analyst comments "We launch on Southern Copper (SCCO) with a Peer Perform rating and $62/share price target in the context of a constructive view on copper. While SCCO shares have underperformed ytd, we consider alternative copper plays more compelling. Delays to copper projects ramping up to 2028/29E push out the growth thesis and provide less support to the premium multiple, in our view. A steady dividend payout and production outlook leave it with limited catalysts near term. We also flag political country risk in Peru particularly and cost inflation risks."

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 $60.79 yesterday.

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