YouTube · Q2 2026 · 2026-07-25
SCCO · NYSE
Southern Copper Corporation
Copper · United States
USD 179.361.0% daily changeQuote 2026-11-02 · USD
- Market cap (USD)
- US$153.05B
- Trailing P/E
- 23.85x
- Forward P/E
- 23.74x
- Quarterly revenue growth
- 39.1%
- Trailing net margin
- 37.2%
- Indicated dividend yield
- 2.9%
Snapshot 2026-11-03 · Latest financial period 2026-09-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Next earnings: 2027-01-26 (provider estimate; issuer confirmation unavailable here).
Company background
Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Mexico, the United States, Peru, Brazil, Chile, and Other American countries. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of copper-molybdenum concentrates and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of copper, molybdenum, zinc, silver, gold and lead. It operates the Toquepala and Cuajone open-pit mines, smelter, and refinery in Peru; La Caridad, an open-pit copper mine, as well as copper ore concentrator; and SX-EW plant, a smelter, refinery, and rod plant in Mexico. The company also operates Buenavista, an open-pit copper mine, as well as copper concentrators and operating SX-EW plants in Mexico. In addition, it operates underground mines that produce zinc, lead, copper, silver, and gold; coal mine; and zinc refinery. The company has interests in 164,805 hectares and 505,788 hectares of concessions in Peru and Mexico; and 98,634 hectares and 28,453 hectares of exploration concessions in Argentina and Chile. Southern Copper Corporation was formerly known as Southern Peru Copper Corp. and changed its name to Southern Copper Corporation in July 1996. The company was incorporated in 1952 and is based in Phoenix, Arizona. Southern Copper Corporation operates as a subsidiary of Americas Mining Corporation.
Company websiteQ3 FY2026
Go beyond the headline.
SCCO Stock: The Nine-Cent Copper Cost Has a Catch | Q3 FY2026
Published 2026-10-22
Short takes Q3 FY2026
SCCO Stock: Nine-Cent Copper Has a Catch | Q3 FY2026 #Shorts
Watch Short on YouTube
Q3 FY2026 REPORT HIGHLIGHTS
What’s changed for SCCO
Record cash generation meets a demanding share price: gross costs, by-product credits and project uncertainty define Southern Copper’s owner-return test.
Record cash is real.
Q3 operating cash of $2,224.3M less $515.8M capital investment yields $1,708.5M free cash flow, calculated.
The low net cost depends on credits.
Gross cash cost rose to245.5¢/lb; by-products reduced the net measure to9.5¢/lb.
Production needs the correct comparison.
Mined copper fell1.1% YoY but rose approximately0.8% sequentially; the issuer narrative mislabels the decline.
Project uncertainty stays outside base value.
El Pilar annual output is stated as36,000 and29,000; no invented reconciliation or volume-derived base cash flow.
Price asks for stronger durability.
Our $130 central value and $136.25 weighted scenario value are below the dated $182.91 quote.
Comparable businesses
SCCO peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
| Metric | SCCOSouthern Copper CorporationSnapshot 2026-11-03Financial period: 2026-09-30 | FCXFreeport-McMoRan Inc.Snapshot 2026-11-03Financial period: 2026-09-30 | TECKTeck Resources LimitedSnapshot 2026-11-03Financial period: 2026-09-30 |
|---|---|---|---|
| Market capMarket value, converted to USD | US$153.05B | US$90.43B | US$30.81B |
| Forward P/EProvider forward earnings estimate | 23.74x | 14.71x | 15.41x |
| EV / EBITDAEnterprise value / trailing EBITDA | 13.71x | 10.72x | — |
| Revenue growthLatest quarter vs prior-year quarter | 39.1% | 8.2% | 33.4% |
| Operating marginLatest reported quarter | 59.9% | 35.3% | 35.3% |
| Free cash flow yieldTrailing cash flow / market cap | 3.6% | 2.1% | — |
| Net debt / EBITDANet debt / trailing EBITDA | 0.05x | 0.60x | 0.40x |
| Debt / equityTotal debt / positive book equity | 0.63x | 0.31x | 0.32x |
| Trailing P/ETrailing twelve-month earnings | 23.85x | 26.24x | 10.85x |
| Price / bookPrice / positive book equity per share | 11.55x | 4.20x | 1.48x |
| EV / salesEnterprise value / trailing revenue | 8.80x | 4.04x | — |
| Earnings growthLatest quarter vs prior-year quarter | 62.7% | 76.1% | 468.4% |
| Gross marginTrailing twelve months | 65.8% | 38.9% | 40.1% |
| Net marginTrailing twelve months | 37.2% | 13.0% | 25.2% |
| Return on equityProvider trailing return; positive equity only | 52.9% | 15.7% | 13.6% |
| Free cash flow marginTrailing free cash flow / revenue | 32.6% | 7.1% | 15.3% |
| Dividend yieldIndicated annual dividend / price | 2.9% | 1.0% | 0.6% |
| Earnings payoutProvider trailing dividend payout | 52.4% | 29.6% | 6.5% |
| Current ratioCurrent assets / current liabilities | 4.31x | 2.02x | 2.80x |
| BetaProvider historical market sensitivity | 1.16 | 1.37 | 1.65 |
YouTube · Q2 2026 · 2026-07-25
YouTube · Q2 2026 · 2026-07-25
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
Financial statements load separately from the research page.
Source: . Window ends at the latest available reporting period.
Revenue
Reported figures
Financial data & calculation notes
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Valuation & price history
Adjusted closing price
Price history loads separately.
Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-11-03. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for SCCO
Q3 FY20262026-10-22
FREE RESEARCH PACKET · Q3 FY2026
SCCO: The Nine-Cent Copper Cost Has a Catch
Record cash generation meets a demanding share price: gross costs, by-product credits and project uncertainty define Southern Copper’s owner-return test.
Research published October 22, 2026 · Download original report
Read Research PacketSCCO Stock: The Nine-Cent Copper Cost Has a Catch | Q3 FY2026
Presentation · 2026-10-22 · YouTube
Short takes Q3 FY2026
SCCO Stock: Nine-Cent Copper Has a Catch | Q3 FY2026 #Shorts
Watch Short on YouTube