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Wolfe upgrades Southern Copper to Peer Perform on falling costs
The Fly

Wolfe upgrades Southern Copper to Peer Perform on falling costs

Wolfe Research analyst Tinma Tanners upgraded Southern Copper to Peer Perform from Underperform without a price target. The upgrade reflects costs falling on the company’s byproduct credits as well as energy cost relief, on top of a modestly better copper outlook, Tanners tells investors in a research note. Southern Copper’s "strong" dividend payout and free cash flow can prompt a higher multiple and attract investors, despite the company’s limited growth, says the analyst.

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