Southern Copper (NYSE:SCCO) Gets Big PT Boost from Deutsche (NYSE:DB)

Southern Copper (NYSE:SCCO) should be trading at a higher multiple, according to Deutsche Bank (NYSE:DB), citing their dividend and strong growth potential.

Deutsche said, "We believe Southern Copper deserves to trade at a higher multiple than its peers given its high growth potential and high dividend payout policy."

"Southern Copper (SCCO) is the world’s 6th largest producer of copper, having a nominal capacity of -680k tons per year (including Cananea) and holds the largest reported copper
reserves at -55m tons. Operationally, Southern Copper's outlook is tied to copper as -75% of 2009 revenue is derived from copper, followed by molybdenum (-15%) and other coproduct metals."

Deutsche Bank maintains their "Buy" rating on Southern Copper, which closed Tuesday at $46.72, gaining $1.22, or 2.68 percent. Deutsche boosted their price target on them from $46 to $64.