Southern Copper Stock Surges on Earnings Beat and Copper Demand

Southern Copper Corporation's stock price surged 3.17 percent on October 2, 2026, closing at $205.54 on the NYSE after reporting a quarterly earnings beat and revenue growth.

The company's second-quarter revenue rose 40.6 percent year over year to $4.29 billion, exceeding analysts' expectations of $4.37 billion. However, its adjusted EBITDA margin expanded to 67 percent from 59 percent in Q2 2025, indicating copper price leverage.

Copper production fell 3.5 percent year over year to 230,662 tons in Q2 2026, but management discussed a 2026 production expectation of 917,000 tons. Analysts remain cautious, with an average 12-month price target of $146.84 below the current stock price.