Southern Copper Corporation (Southern Copper) reported better-than-expected net sales and operating and net performance in 4Q 09. Consequently we expect to marginally revise our estimates upwards and therefore at current levels we upgrade our 6-12 month NYSE common stock rating from a SELL to a HOLD. We will reassess our target price and rating in our next update report. The Peruvian stock trades in US dollars. As a result, we do not anticipate any currency…

Southern Copper Corporation (Southern Copper) reported a decline in revenues and earnings in 3Q 09 led by lower average metal prices, partially offset by an increase in sales volumes across all product lines. The decline in top-line outpaced the decline in operating expenses, which put further pressure on bottom-line. Our fundamental outlook remains unchanged and we believe the company’s NYSE stock is overvalued, and therefore we maintain our 6-12 month SELL rating for the NYSE common…

The Southern Copper Corporation (Southern Copper) NYSE common stock has appreciated significantly since our previous update report, reflecting the recent rebound in copper prices. However, we remain cautious about this rebound, and remain concerned about a potential correction over the coming quarters, after the current restocking trend loses steam. Therefore, we maintain our 6-12 month SELL rating. We will reassess our common stock rating for Southern…