At a glance
Southern Copper Corporation is worth $164.17B, about 37 times its fiscal 2025 earnings. Revenue grew 17.4% to $13.42B in fiscal 2025, with 32.3% kept as profit; over 5 years it has grown 10.9% a year. It pays a 2.09% dividend yield, and returned $12.39B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +51.5% over the past year with dividends reinvested and +31.7% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 38.6% in the 2020 crash (S&P 500: 33.7%) and 43.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 4 months after the lows.
The business in plain English
Southern Copper mines copper in Peru and Mexico and turns much of it into finished metal. It calls itself one of the world's largest integrated copper producers. That means it handles each step itself: mining the ore, smelting it (heating it to separate out the metal) and refining it into nearly pure copper. It believes it holds the world's largest copper reserves. Grupo Mexico owned 88.9% of the company as of December 31, 2025.
The company does not control its prices. Copper prices are set mainly on exchanges in New York and London, so management focuses on controlling costs and raising production. In fiscal 2025, copper made up 75.5% of the $13.4 billion in revenue. Molybdenum (a metal used to toughen steel) followed at 10.5%, then silver at 8.1% and zinc at 4.2%. Copper ends up mainly in buildings, power grids and electrical products. Mexico was its largest market, at 26.2% of sales.
The business has three segments. Mexican open-pit operations, built around the La Caridad and Buenavista mines, brought in about 57% of fiscal 2025 segment sales. Peruvian operations contributed about 39%. They include the Toquepala and Cuajone mines plus a smelter and refinery at Ilo. Five underground Mexican mines producing zinc, lead, copper, silver and gold added about 6%. The shares overlap because the segments sell to each other.
Price history
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SCCO +51.5% over the year to Oct 27, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Copper | $10.14B | 75.5% |
| Molybdenum | $1.41B | 10.5% |
| Silver | $1.09B | 8.1% |
| Zinc | $563.9M | 4.2% |
| Other Metals | $481.8M | 3.6% |
By business segment
| Mexican Open Pit | $7.62B | 56.8% |
| Peruvian Operations | $5.25B | 39.1% |
| Mexican IMMSAUnit | $807.8M | 6% |
By geography
| MX | $3.51B | 26.2% |
| US | $1.87B | 13.9% |
| CH | $1.85B | 13.8% |
| CN | $1.28B | 9.5% |
| JP | $985.0M | 7.3% |
| PE | $865.2M | 6.4% |
| Other European Countries | $696.0M | 5.2% |
| ES | $665.5M | 5% |
| BR | $558.1M | 4.2% |
| CL | $548.4M | 4.1% |
| IT | $394.8M | 2.9% |
| Other Asian Countries | $104.7M | 0.8% |
| Latin America | $83.7M | 0.6% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $4.70B, up 39.1% from a year earlier, and net income was $1.80B (+62.7%).
- For fiscal 2025, revenue was $13.42B (+17.4% year over year; +10.9% a year from FY2020 to FY2025) with a 32.3% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +10.9% good |
|---|---|
| Operating margin | 52.2% good |
| Free cash flow margin | 25.5% good |
| Return on equity (FY2025) | 39.3% good |
| Return on assets (FY2025) | 20.3% good |
| Net cash (cash minus debt) | $67.0M good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $7.98B | $1.57B | $2.19B |
| FY2021 | $10.93B | $3.40B | $3.40B |
| FY2022 | $10.05B | $2.64B | $1.85B |
| FY2023 | $9.90B | $2.43B | $2.56B |
| FY2024 | $11.43B | $3.38B | $3.39B |
| FY2025 | $13.42B | $4.33B | $3.43B |
Valuation snapshot
| Market value | $164.17B |
|---|---|
| P/E ratio | 37.1 |
| Dividend yield | 2.09% |
Rank among 1514 US companies
Market value at each year end
Southern Copper’s market value went from $24.18B at the end of 2016 to $164.17B on Oct 27, 2026, about 6.8 times as much; since the end of 2025 it is up 42%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 27, 2026 | $164.17B | +42.4% |
| 2025 | $115.26B | +62.8% |
| 2024 | $70.81B | +8.7% |
| 2023 | $65.17B | +42.5% |
| 2022 | $45.72B | -2.1% |
| 2021 | $46.72B | -5.2% |
| 2020 | $49.30B | +53.3% |
| 2019 | $32.16B | +38.1% |
| 2018 | $23.29B | -35.2% |
| 2017 | $35.92B | +48.6% |
| 2016 | $24.18B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| SCCO price data to Oct 27, 2026 | +38.4% | +51.5% | +44.5% | +31.7% | +26.2% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +38.4% |
| 2025 | +63.5% |
| 2024 | +9.3% |
| 2023 | +50.1% |
| 2022 | +4.2% |
| 2021 | -0.7% |
| 2020 | +59.0% |
| 2019 | +46.6% |
| 2018 | -33.1% |
| 2017 | +50.8% |
| 2016 | +23.1% |
| 2015 | -6.3% |
| 2014 | -0.3% |
| 2013 | -22.6% |
| 2012 | +40.9% |
| 2011 | -33.6% |
| 2010 | +55.8% |
| 2009 | +109.1% |
| 2008 | -50.4% |
| 2007 | +104.3% |
| 2006 | +64.3% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 64.1% over that stretch · deepest drop along the way 78.5%, back to its old high 22.7 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 38.6% over that stretch · deepest drop along the way 38.6%, back to its old high 2.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 17.4% over that stretch · deepest drop along the way 43.1%, back to its old high 3.5 months after the low |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 0 open-market purchases and 10 sales ($246K).
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 31, 2026 | Bonilla Luis Miguel Palomino Director | sell | $87K |
| Sep 8, 2026 | Bonilla Luis Miguel Palomino Director | sell | $21K |
| Sep 24, 2026 | Bonilla Luis Miguel Palomino Director | sell | $20K |
| Sep 4, 2026 | Bonilla Luis Miguel Palomino Director | sell | $20K |
| Aug 5, 2026 | Bonilla Luis Miguel Palomino Director | sell | $20K |
Who owns it
ETFs with the most weight in SCCO
| EPU iShares MSCI Peru and Global Exposure ETF | 19.55% |
| ICOP iShares Copper and Metals Mining ETF | 6.11% |
| COPP Sprott Copper Miners ETF | 5.29% |
| COPX Global X Copper Miners ETF | 4.93% |
| CCSO Carbon Collective Climate Solutions U.S. Equity ETF | 4.89% |
| EMET VanEck Copper and Electrification Metals ETF | 4.27% |
| AGMI Themes Silver Miners ETF | 4.24% |
| COPA Themes Copper Miners ETF | 4.19% |
What could go wrong
- Grupo Mexico controls the company. Grupo Mexico owned 88.9% of the stock as of December 31, 2025. It controls the company's affairs and policies, and its interests may differ from those of other shareholders.
- All operations sit in Peru and Mexico. Every mine, smelter and refinery is in two countries. Political change, illegal mining in Peru, drug-related violence in Mexico, inflation and swings in the Peruvian sol and Mexican peso could raise costs or disrupt output.
- Profits ride on the copper price. Copper brought in 75.5% of fiscal 2025 revenue. Prices swing with global growth, trade policy and Chinese demand. Long slumps could bring losses and force it to cut the stated value of its mines and plants.
- Community protests and concession renewals. Local community actions could halt mines or delay projects and add costs. The company also cites uncertainty over the termination and renewal of its mining concessions, the government grants that allow it to mine.
- Tailings storage and unstable pit walls. Mines store waste rock and tailings (leftover crushed rock) in large facilities with environmental, safety and engineering challenges. Pit slopes can also give way. Some mining risks cannot be insured.
- The dividend could shrink. The company has paid out a large share of net income since 1996, but the board can change its dividend practice at any time. Lending agreements and heavy investment needs could also limit payouts.
Recent events
- Quarterly results released
- Quarterly results released
- Shareholder vote results
- Other company announcement
- Major agreement signed; New debt or financial obligation; Other company announcement
- Executive or board change
- Quarterly results released
- Executive or board change
- Other company announcement
- Quarterly results released
For income and retirement investors
Southern Copper pays a dividend, but the amount varies widely. Cash dividends per share rose from $1.50 in fiscal 2020 to $4.00 in 2023. They fell to $2.10 in 2024, then recovered to $3.10 in 2025, a one-year streak of increases. The 2025 payout used 57.3% of earnings and 72.5% of free cash flow (cash left after capital spending). The yield was 2.09% as of October 27, 2026. Since the second quarter of 2024, the company has also paid quarterly dividends in shares. It made no buybacks from fiscal 2021 to 2025, and its share count grew 7.9% between November 2021 and July 2026.
The stock has fallen hard in downturns. It dropped 78.5% in the 2008 financial crisis and took until October 2010 to recover. It lost 38.6% in the 2020 COVID crash and 43.1% in the 2022 bear market, regaining those losses by June 2020 and January 2023. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Southern Copper make money?
It mines and sells metals, mostly copper. In fiscal 2025, copper brought in 75.5% of its $13.4 billion revenue, molybdenum 10.5%, silver 8.1% and zinc 4.2%. Net income was $4.3 billion. The company digs ore from mines in Peru and Mexico, then smelts and refines much of it into nearly pure copper in its own plants. Copper prices are set mainly on metal exchanges in New York and London, so profits rise and fall with metal prices.
Does Southern Copper raise its dividend every year?
No. Cash dividends per share have gone up and down. They climbed from $1.50 in fiscal 2020 to $4.00 in 2023, dropped to $2.10 in 2024, then rose to $3.10 in 2025, a one-year streak of increases. The 2025 dividend used 57.3% of earnings. Since the second quarter of 2024, the company has also paid quarterly dividends in shares. The yield was 2.09% as of October 27, 2026, and the board can change the dividend practice at any time.
Who owns Southern Copper?
Grupo Mexico controls it. Through its wholly owned subsidiary Americas Mining Corporation, Grupo Mexico owned 88.9% of Southern Copper's stock as of December 31, 2025. Grupo Mexico is a holding company with interests in mining and railways. Southern Copper's shares are listed in New York and Lima. Its annual report warns that Grupo Mexico controls its affairs and policies, and that the parent's interests may differ from those of other shareholders.
Is Southern Copper stock volatile?
Yes. Its beta, a measure of how much a stock moves compared with the overall market, was 2.32 for the year to October 27, 2026, so its price has tended to swing much more than the market's. It fell 78.5% in the 2008 financial crisis and 43.1% in 2022. Gains have been big too: the share price rose an average of 26.2% a year over the 10 years to October 27, 2026. Calendar-year returns ranged from a 50% loss in 2008 to a 109% gain in 2009.
What is Southern Copper's P/E ratio?
It was 37.1 as of October 27, 2026, based on fiscal 2025 earnings of $5.24 per share. The P/E (price-to-earnings) ratio is the share price divided by a year's profit per share. The company's market value was about $162 billion on that date. Profits have kept rising: net income for the quarter ended June 30, 2026, was up 71.6% from a year earlier. Because earnings swing with metal prices, the ratio can change sharply from year to year.