Southern Copper stock falls 2.14 percent as Wells Fargo lifts target

Published on 10/07/2026 at 15:58 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Wells Fargo set a USD 190 target for Southern Copper on October 6, 2026, versus USD 172 previously. Q2 revenue rose 40.6 percent to USD 4.289 billion.

SCCO, US84265V1052, Illustration mit AI erstellt.

Southern Copper stock (ISIN US84265V1052) was trading at USD 199.88 on the NYSE on October 7, 2026, down 2.14 percent from the prior close. The immediate catalyst is Wells Fargo's October 6 decision to raise its price target from USD 172 to USD 190 while keeping an equal weight rating, according to MarketBeat.

Wells Fargo lifts its target

The revised target is still below the October 7 market price, putting the analyst action in tension with Southern Copper's recent operating performance. Wells Fargo's equal weight stance also contrasts with the company's strong Q2 earnings figures, which remain the latest reported results.

MarketBeat said Wells Fargo's target change followed a report dated October 6, 2026. The same report listed two Buy ratings, five Hold ratings and seven Sell ratings, alongside an average Reduce rating and an average price target of USD 148.20, according to MarketBeat.

Q2 revenue rose 40.6 percent

Southern Copper generated USD 4.289 billion in Q2 2026 revenue, up 40.6 percent from USD 3.051 billion in Q2 2025. Net income increased to USD 1.670 billion from USD 973.5 million, while net margin reached 38.9 percent, according to Simply Wall St.

Adjusted earnings per share came in at USD 1.99, beating the USD 1.93 consensus by USD 0.06, while revenue fell short of the USD 4.37 billion estimate. That combination matters for investors: profit growth is accelerating, but the revenue miss leaves copper prices, production volumes and project execution as key tests for the next report, according to Markets Insider.

Stock remains below its yearly high

At USD 199.88 on October 7, 2026, SCCO stood 9.65 percent below its 52-week high of USD 221.24 and 72.72 percent above its 52-week low of USD 115.74. Trading volume was 49,089 shares at the quoted time, compared with an average volume of 1,118,777 shares.

Southern Copper's market capitalization was USD 166.8 billion on October 7, 2026. The valuation gap between the current price and the average analyst target makes the next operating update more important than the isolated target increase.