Wells Fargo initiated coverage of Southern Copper (SCCO) with an Equal Weight rating and $121 price target as part of a broader research note launching firm coverage on Mining names. The firm notes it is finally “siding with copper bulls” in 2026 as supply constraints from large mines can tilt the market into a deficit, the analyst tells investors in a research note. Wells Fargo adds it expects strong free cash flow from the company continuing to support its elevated 50/50 stock and cash dividend, though it prefers Freeport McMoRan (FCX) on valuation.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SCCO:
- Southern Copper price target raised to $155 from $130 at Jefferies
- Grupo Mexico downgraded to Hold at Jefferies on valuation discount
- Southern Copper price target raised to $110 from $100 at UBS
- Southern Copper price target lowered to $89 from $89.10 at Goldman Sachs
- Southern Copper price target raised to $92 from $79 at JPMorgan