Southern Copper Corporation (SCCO) Stock Price & How to Invest

Southern Copper (SCCO) is one of the largest integrated copper producers in the world, with operations concentrated in Peru and Mexico. The company mines, smelts, and refines copper and produces meaningful byproduct volumes of molybdenum, zinc, silver, and other metals, which help offset costs. Southern Copper is known for very large, long-life ore reserves and among the lowest cash costs in the industry, a structural advantage that lets it stay profitable across much of the commodity cycle. It is majority owned by Grupo Mexico, a large Mexican mining and infrastructure conglomerate, which influences capital allocation and strategy. The investment case is closely tied to the price of copper, a metal central to electrification, electric vehicles, renewable power, grid buildout, and construction. Southern Copper pursues a pipeline of expansion and greenfield projects to grow output over time, though large mining projects carry permitting, environmental, and social-license risk, particularly in Peru. Headquartered in Phoenix, Arizona, with primary operations in Latin America, SCCO is a high-dividend, commodity-leveraged miner whose results rise and fall with copper prices.

Southern Copper's earnings and dividend swing with the price of copper, a volatile commodity sensitive to global growth, China demand, and the dollar, so a copper downturn hits results directly. Operations are concentrated in Peru and Mexico, exposing the company to political, regulatory, tax, permitting, environmental, and social-license risk, and Peru in particular has seen protests and disruptions around mining projects. Majority ownership by Grupo Mexico means minority shareholders have limited control over capital allocation. Large expansion projects can face delays and cost overruns. Currency, energy-cost, and byproduct-price movements also affect margins. As with any single-commodity miner, SCCO is cyclical and not defensive.

17 analysts publish price targets on SCCO, averaging $168.25 against a $182.71 price as of August 2026, or -7.9%. The published targets run from $128.50 to $250.00, a wide spread, and the ratings split 1 buy, 6 hold, 11 sell. Over the last six months there have been 10 raises and 1 cut among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full SCCO forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Southern Copper Corporation. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Low-cost, long-life reserves. Southern Copper holds some of the largest copper reserves in the industry and operates at among the lowest cash costs, helped by byproduct credits from molybdenum, silver, and zinc. The most optimistic published target, $250.00, assumes this works close to its best case.

The case against. Southern Copper's earnings and dividend swing with the price of copper, a volatile commodity sensitive to global growth, China demand, and the dollar, so a copper downturn hits results directly. The most pessimistic target, $128.50, is roughly what SCCO is worth if this bites instead.

Read the full bull and bear case on SCCO, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Southern Copper Corporation's investor relations page or your broker.

• Revenue (TTM): ~$11 billion-plus, varies with copper price (verify)
• Profitability: Profitable; margins swing with copper prices
• Cash cost position: Among the lowest in the copper industry
• P/E (TTM): ~20x to ~30x, varies with cycle (verify)
• Dividend yield: ~3% to ~5%, variable (verify)
• Primary commodity: Copper, with molybdenum, zinc, silver byproducts
• Key reserves: Very large, long-life copper reserves in Peru and Mexico
• Market cap: ~tens of billions, varies with price (verify)

Southern Copper's valuation moves with the copper price and the commodity cycle, and its dividend can vary with earnings rather than being fixed. The market often awards it a premium to peers for its low costs and long-life reserves, while applying a discount for political and concentration risk in Peru and Mexico and the Grupo Mexico ownership structure. Figures are approximate and move with copper prices and results; verify current revenue, P/E, and yield.

If you want SCCO exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

These are the investment theses SCCO naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.

Other names that sit close to SCCO: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get SCCO exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (COPX, ICOP), which spreads the position across many companies. Or build it into a focused thematic portfolio, so SCCO sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where SCCO fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Southern Copper (SCCO) is a large, low-cost copper miner whose results track the price of copper, a metal central to electrification and the grid. In a portfolio it behaves as a commodity-leveraged, high-dividend materials holding with strong reserves and low cash costs, rather than a defensive or growth position. It carries the cyclicality of copper prices and operating risk in its Latin American mines.

Whether SCCO is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is SCCO a buy or a sell?, and where the stock could go from here in the SCCO stock forecast.

For income investors, whether SCCO pays a dividend and how the payout looks is covered in does SCCO pay a dividend? And to weigh SCCO against a peer, read the full side-by-side comparisons: SCCO vs FCX and SCCO vs PWR.