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.
Published first on TheFly
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