Southern Copper Stock Soars 8.24% as Q2 Earnings Exceed Expectations
Southern Copper Corporation has seen its stock surge by 8.24% following Q2 earnings that beat expectations, with EPS rising to $2.01 from $1.17 and revenue climbing to $4.29B from $3.05B.
The strong numbers come as copper prices have tightened, highlighting the value of Southern Copper's long-life Latin American assets. However, one major firm, CICC, has cut its view on the stock to Market Perform and set a $180.70 price target, signaling valuation caution after the rally.
Despite this downgrade, traders remain bullish on Southern Copper, with the stock outpacing copper itself during the July 2026 run, a classic sign of operating leverage. Traders love that kind of leverage in a hot tape, and the tension between ripping earnings, high returns, and a cautious rating creates trading opportunity.