Citi opens ‘downside catalyst watch’ on Southern Copper

Citi analyst Alexander Hacking opened a “30-day downside catalyst watch” on shares of Southern Copper while keeping a Sell rating on the name with a $64 price target. The company’s Q2 results should be “generally weak” based on cost pressure and Citi expects copper prices to fall 10% during Q3, the analyst tells investors in a research note.