Southern Copper stock falls 9.19% as project risks stay in focus
Published on 11/05/2026 at 17:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSExpansion plans meet execution risks
- Management kept its 2026 copper output forecast at 918,000 tonnes despite lower third-quarter mined production.
- Tia Maria is scheduled to begin operations in the first half of 2028 after equipment and engineering work extended the timeline.
- Southern Copper is reviewing a potential Cuajone milling expansion while project spending remains under scrutiny.
Southern Copper stock traded at 145.78 euros on Lang & Schwarz at 5:00:50 p.m. CET on Thursday, November 5, 2026. That was 9.19 percent below the 160.53-euro indication reported on Wednesday, November 4, marking the latest shift in the stock's trading level since the previous update.
The investment debate remains focused on whether record quarterly earnings can support an ambitious expansion program. In a report published on October 28, Zacks said management maintained its 2026 copper production forecast at 918,000 tonnes, even after third-quarter mined copper output fell 1.1 percent year over year to 232,396 tonnes.
Project timing remains central
Southern Copper expects Tia Maria in Peru to begin operations in the first half of 2028. Zacks reported that management attributed the revised timetable to additional mechanical equipment assembly and engineering work, while spending projections are under review ahead of the January 2027 earnings call.
The company is also evaluating a Cuajone milling expansion from 90,000 to 120,000 tonnes per day, with an estimated investment of 680 million US dollars. A larger 150,000-tonne option is under review, but management indicated that the smaller expansion was more likely.
El Pilar in Mexico remains scheduled for the second half of 2029 and carries an estimated investment of 551 million US dollars. Together with Tia Maria, the project is expected to add about 156,000 tonnes of refined copper to annual production, supporting Southern Copper's goal of exceeding one million tonnes of annual output.
Record results face tougher scrutiny
The third quarter produced record sales of 4,696.6 million US dollars and net income attributable to Southern Copper of 1,801.8 million US dollars. Higher metal prices supported the result, but lower mined volumes and construction execution leave investors sensitive to copper prices, project costs and delivery schedules.
Investors can follow the real-time quote of Southern Copper Corporation stock for the latest market indication.
The US equity market remains the relevant backdrop for Southern Copper's NYSE listing; see Current market reports.
More news and analyses on Southern Copper Corporation stock cover quarterly results, dividends and project developments.
Southern Copper Corporation
- Company: Southern Copper Corporation
- ISIN: US84265V1052
- Ticker: SCCO
- Home exchange: NYSE
- Lang & Schwarz price: 145.78 euros at 5:00:50 p.m. CET on November 5, 2026
- Change since November 4 indication: 9.19 percent lower than 160.53 euros
- 2026 copper production forecast: 918,000 tonnes
- Tia Maria start: First half of 2028
