Bank of America (NYSE:BAC) Upgrades Southern Copper (NYSE:SCCO) to Buy

After running their share price up over the last three months from a low of $28.04 on August 24 to over $45 a share on Thursday, Bank of America (NYSE:BAC) finally upgraded Southern Copper (NYSE:SCCO) from "Neutral" to a "Buy."

Most of this is probably from the realization copper demand is going to rise and supply have a hard time keeping up with it. China is again the impetus behind the support of copper prices, even if it's slightly slowing down its economic growth.

Southern Copper closed Thursday at $46.73, gaining $1.23, or 2.70 percent. Volume was 33 percent over its 3-month average.