Credit Suisse initiates coverage of Southern Copper (SCCO +0.3%) with an Outperform rating and...

|About: Southern Copper Corporation (SCCO)|By:, SA News Editor

Credit Suisse initiates coverage of Southern Copper (SCCO +0.3%) with an Outperform rating and $43 price target after Q1 profit fell 20% on declining copper and silver prices but matching analysts’ estimates. Q1 copper production slipped 2.2% to ~149K metric tons, but CS expects SCCO to increase copper production substantially over the next four years.