Southern Copper stock gained 3.17 percent on October 2, 2026.

Published on 10/04/2026 at 09:38 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Southern Copper stock carried a USD 205.54 close into October 4 after its latest session. Q2 adjusted EBITDA rose 60 percent to USD 2,956 million.

SCCO, US84265V1052, Illustration mit AI erstellt.

Southern Copper stock (ISIN US84265V1052) closed at USD 205.54 on the NYSE on October 2, 2026, up 3.17 percent from the prior close. The move came as the copper producer entered the final quarter with record second-quarter profitability but a more demanding valuation debate.

Q2 revenue rose 40.6 percent

Southern Copper reported Q2 2026 revenue of USD 4.29 billion, an increase of 40.6 percent from the same quarter a year earlier, while diluted earnings reached USD 1.99 per share. MarketBeat reported the figures on September 15, 2026, noting that earnings exceeded consensus by USD 0.06 while revenue fell short of the USD 4.37 billion estimate.

The earnings mix matters. According to the Yahoo Finance transcript of the July 22, 2026 earnings call, adjusted EBITDA climbed 60 percent to USD 2,956 million in Q2 2026 from USD 1,791 million in Q2 2025. The adjusted EBITDA margin reached 67 percent, compared with 59 percent a year earlier.

Production remains the counterweight

Higher metal prices supported the financial result, but operating volume moved in the opposite direction. Southern Copper said Q2 copper production declined 3.5 percent year over year to 230,662 tons, including a 12 percent drop in Peru linked to lower ore grades and recoveries.

Management maintained a 2026 copper production expectation of 917,000 tons in the same call. Operating cash flow for the first six months reached USD 3,682 million, up 117 percent from USD 1,698 million in the first half of 2025, giving the company funding capacity for its project pipeline.

Analysts see valuation pressure

MarketBeat reported on September 15, 2026, that 15 analysts carried a consensus Reduce rating and an average 12-month price target of USD 146.84. That target sits 28.6 percent below the USD 205.54 closing price, creating a clear split between operating momentum and equity valuation.

The same report cited UBS at Sell with a USD 158.10 target, raised from USD 143.28. Southern Copper also increased its quarterly cash dividend to USD 1.10 per share, according to the September 15, 2026 report, lifting the annualized cash payout to USD 4.40.

Southern Copper stock holds a high valuation

Southern Copper stock closed at USD 205.54 on October 2, 2026, with a session range of USD 202.02 to USD 206.99 and a 52-week range of USD 115.74 to USD 220.78. Market capitalization stood at USD 173.5 billion and trading volume reached 882,590 shares on that session. For investors, the central question is whether record margins can offset lower production volumes and the gap between the market price and analyst targets.