Wells Fargo Cuts Southern Copper (SCCO) Price Target Amid Copper Rally

Southern Copper Corporation (NYSE:SCCO) is one of the 10 New Contenders for S&P 500 Index.

On April 15, 2026, Wells Fargo lowered its price target on Southern Copper Corporation (NYSE:SCCO) from $192 to $186. The firm’s analyst Timna Tanners kept an Equal Weight rating on the company’s stock. The update was part of the firm’s adjustments to the sector estimates, following elevated copper price forecasts driven by mine disruptions and rising costs.

Southern Copper Corporation (NYSE:SCCO) saw another adjustment to its price target this month. On April 23, 2026, Scotiabank raised the firm’s price target on Southern Copper (SCCO) to $133 from $125 while keeping an Underperform rating on the company’s stock. According to the firm’s analyst, Scotiabank increased its price-to-NAV multiple for the company’s Mexican open-pit assets. The research notes also told the investors that the firm maintains a cautious outlook, citing a lack of attractive upside to current valuation levels. Notably, Southern Copper Corporation (NYSE:SCCO) is the largest pure-play copper miner that is not yet part of the S&P 500 index.

Founded in 1952, Southern Copper Corporation (NYSE:SCCO) is one of the world’s largest integrated copper producers in the world. The Arizona-based company engages in the development, production, and exploration of copper, molybdenum, zinc, and silver.

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