Analyst Consensus ?
ConsensusHold29 ratings
Bullish310.3%
Neutral1448.3%
Bearish1241.4%
1 unmapped firm rating excluded from the percentages.
Southern Copper Corporation · SCCO · FY2024 Q2 · Calendar Q3 2024
Southern Copper: stronger volumes, higher capex, and project risk
The current call supports a constructive operating thesis: stronger volumes, by-product contributions, and copper demand helped lift profitability, while the Buenavista ramp-up adds near-term capacity. The counterweight is execution risk from higher capex, water and permitting dependencies, and funding demands for the project pipeline.
Reported Before market openNYSEBasic Materials
$156.21B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.21
Consensus $1.05
EPS surprise
+15.2%
Reported versus consensus
Reported revenue
$3.12B
Consensus $2.85B
Revenue surprise
+9.6%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+0.3%
Event window
SPY move
-0.7%
Same window
Abnormal move
+1.0%
Stock minus SPY
Volume
1.4×
Versus trailing sessions
Subsequent drift
+0.2%
Up to 20 sessions
SCCOSPY benchmark
Ask FN2 about SCCO FY2024 Q2
Transcript, numbers and history already loaded
Why did SCCO rise 0.3% after beating EPS estimates in FY2024 Q2?What changed in SCCO's guidance and outlook in FY2024 Q2?Give me the bull and bear case for SCCO after FY2024 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, management's tone shifted from cautious to confident. The growth and capex outlook became more active: Buenavista was ahead of schedule, Tia Maria was targeted for H1 2027 production, and capex increased, while production guidance remained maintained.
Guidance delta
Management maintained production guidance while increasing its capex outlook.
Key takeaways
- Management reported higher copper, zinc, molybdenum, and silver production, with revenue up 36% year over year.
- Adjusted EBITDA rose 61% year over year to $1.8 billion, while margin reached 58% in Q2.
- The Buenavista zinc concentrator was operating ahead of schedule and had produced 23,300 tons of zinc and 5,500 tons of copper.
- Capex rose 31% quarter over quarter to $332 million as Buenavista and longer-term projects advanced.
Management priorities
- Complete the Buenavista zinc concentrator ramp-up.
- Advance Tia Maria toward planned H1 2027 production and evaluate capex acceleration.
- Expand Cuajone mill capacity by roughly one-third.
- Develop wind power and continue ESG and social programs.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$187.44Current
$61Low
$140.82Average
$193High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 26, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Oct 23, 2026 |
| Barclays | Underweight | Underweight | Maintain | Oct 19, 2026 |
| UBS | Sell | Sell | Maintain | Oct 8, 2026 |
| Morgan Stanley | Underweight | Underweight | Maintain | Jul 8, 2026 |
| JP Morgan | Underweight | Underweight | Maintain | Jun 17, 2026 |
| Scotiabank | Sector Underperform | Maintain | Jun 15, 2026 | |
| B of A Securities | Underperform | Neutral | Downgrade | Feb 26, 2026 |
| Itau BBA | Underperform | Market Perform | Downgrade | Dec 23, 2025 |
| Goldman Sachs | Sell | Sell | Maintain | Oct 29, 2025 |
| HSBC | Hold | Hold | Maintain | Oct 17, 2025 |
| Citigroup | Sell | Sell | Maintain | Oct 8, 2025 |
| Jefferies | Buy | Buy | Maintain | Oct 6, 2025 |
| Deutsche Bank | Sell | Sell | Maintain | May 3, 2023 |
| Wolfe Research | Peer Perform | Underperform | Upgrade | Jan 11, 2023 |
| BBVA | Underperform | Market Perform | Downgrade | Oct 14, 2020 |
| Macquarie | Underperform | Underperform | Maintain | Jul 11, 2019 |
| Bradesco Corretora | Neutral | Underperform | Upgrade | Nov 21, 2018 |
| Bradesco | Neutral | Underperform | Upgrade | Nov 21, 2018 |
| B. Riley Securities | Neutral | Neutral | Maintain | Sep 19, 2018 |
| B. Riley FBR | Neutral | Neutral | Maintain | Sep 19, 2018 |
| B. Riley | Buy | Buy | Maintain | Mar 6, 2018 |
| Credit Suisse | Neutral | Underperform | Upgrade | Dec 7, 2016 |
| BMO Capital | Market Perform | Outperform | Downgrade | Mar 23, 2016 |
| Berenberg | Sell | Sell | Maintain | Feb 29, 2016 |
| FBR Capital | Outperform | Outperform | Maintain | Jan 28, 2016 |
| Brean Capital | Hold | Hold | Maintain | Mar 26, 2015 |
| BB&T Capital | Hold | Buy | Downgrade | Feb 5, 2015 |
| Bank of America | Neutral | Underperform | Upgrade | Oct 9, 2014 |
| Cowen & Co. | Market Perform | Underperform | Upgrade | Nov 6, 2013 |
| Santander | Hold | Buy | Downgrade | Dec 11, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $187.44. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Wells Fargo | Analyst unavailable | $193 | $183.59 | +3.0% | Oct 23, 2026 |
| Barclays | Analyst unavailable | $168 | $200.51 | -10.4% | Oct 19, 2026 |
| UBS | Analyst unavailable | $180 | $200.57 | -4.0% | Oct 8, 2026 |
| Morgan Stanley | Analyst unavailable | $170 | $198.54 | -9.3% | Oct 7, 2026 |
| Barclays | Richard Garchitorena | $166 | $195.48 | -11.4% | Jul 23, 2026 |
| Barclays | Analyst unavailable | $160 | $179.37 | -14.6% | Jul 15, 2026 |
| Wells Fargo | Analyst unavailable | $172 | $167.21 | -8.2% | Jul 9, 2026 |
| Morgan Stanley | Analyst unavailable | $158 | $169.75 | -15.7% | Jul 8, 2026 |
| UBS | Myles Allsop | $160 | $172.48 | -14.6% | Jun 30, 2026 |
| Scotiabank | Alfonso Salazar | $140 | $193.84 | -25.3% | Jun 15, 2026 |
| Barclays | Analyst unavailable | $148 | $179.12 | -21.0% | May 21, 2026 |
| UBS | Analyst unavailable | $145 | $175.28 | -22.6% | May 21, 2026 |
| Scotiabank | Alfonso Salazar | $135 | $174.85 | -28.0% | May 15, 2026 |
| Wells Fargo | Analyst unavailable | $171 | $171.69 | -8.8% | May 1, 2026 |
| Scotiabank | Alfonso Salazar | $133 | $187.74 | -29.0% | Apr 23, 2026 |
| Wells Fargo | Timna Tanners | $186 | $193.37 | -0.8% | Apr 15, 2026 |
| Goldman Sachs | Analyst unavailable | $178 | $188.05 | -5.0% | Apr 10, 2026 |
| Morgan Stanley | Analyst unavailable | $160 | $187.17 | -14.6% | Apr 8, 2026 |
| UBS | Myles Allsop | $140 | $162.07 | -25.3% | Mar 27, 2026 |
| UBS | Analyst unavailable | $150 | $192.8 | -20.0% | Feb 3, 2026 |
| Morgan Stanley | Analyst unavailable | $156 | $198.2 | -16.8% | Jan 30, 2026 |
| Wells Fargo | Analyst unavailable | $192 | $198.18 | +2.4% | Jan 29, 2026 |
| Scotiabank | Analyst unavailable | $125 | $191.73 | -33.3% | Jan 27, 2026 |
| UBS | Myles Allsop | $148 | $186.25 | -21.0% | Jan 21, 2026 |
| Goldman Sachs | Analyst unavailable | $129 | $174.37 | -31.2% | Jan 14, 2026 |
| Wells Fargo | Analyst unavailable | $182 | $176 | -2.9% | Jan 13, 2026 |
| Wells Fargo | Analyst unavailable | $144 | $147.18 | -23.2% | Dec 23, 2025 |
| Morgan Stanley | Analyst unavailable | $138 | $143.86 | -26.4% | Dec 15, 2025 |
| UBS | Myles Allsop | $143 | $144.06 | -23.7% | Dec 12, 2025 |
| Goldman Sachs | Analyst unavailable | $115 | $138.36 | -38.6% | Oct 29, 2025 |
| HSBC | Jonathan Brandt | $118 | $133.27 | -37.0% | Oct 17, 2025 |
| Morgan Stanley | Analyst unavailable | $132 | $126.73 | -29.6% | Oct 8, 2025 |
| Wells Fargo | Analyst unavailable | $121 | $126.73 | -35.4% | Oct 7, 2025 |
| Jefferies | Analyst unavailable | $155 | $128.29 | -17.3% | Oct 6, 2025 |
| Goldman Sachs | Marcio Farid | $89 | $106.88 | -52.5% | Sep 17, 2025 |
| Morgan Stanley | Carlos De Alba | $99 | $97.55 | -47.2% | Jul 15, 2025 |
| Scotiabank | Alfonso Salazar | $52 | $117.57 | -72.3% | Oct 15, 2024 |
| Morgan Stanley | Carlos De Alba | $100 | $110.54 | -46.6% | Jun 20, 2024 |
| Jefferies | Alejandro Demichelis | $137 | $116.96 | -26.9% | May 31, 2024 |
| Scotiabank | Alfonso Salazar | $54 | $128.55 | -71.2% | May 21, 2024 |
| Jefferies | Alejandro Demichelis | $130 | $104.36 | -30.6% | Mar 22, 2024 |
| Morgan Stanley | Carlos De Alba | $70 | $79.96 | -62.7% | Apr 17, 2023 |
| Banco Santander | Rafael Barcellos | $69 | $57.93 | -63.2% | Nov 28, 2022 |
| Barclays | Matthew Murphy | $61 | $64.89 | -67.5% | Jun 8, 2022 |
Track every rating change on SCCO the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationSouthern 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.…
Historical context
All SCCO earningsBasic Materials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| CRS Carpenter Technology Corporation | FY2027 Q1 · Calendar Q4 2026 | +6.9% | -20.6% | CRS: Aerospace Bookings Accelerate as Guidance Holds |
| DOW Dow Inc. | FY2026 Q3 · Calendar Q4 2026 | +11.3% | +4.7% | Dow’s Q3 growth and self-help gains support a steady Q4 outlook |
| NEM Newmont Corporation | FY2026 Q3 · Calendar Q4 2026 | +12.2% | -2.6% | Newmont Holds 2026 Guidance as Projects Set Up 2027 Growth |
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the SCCO recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-11T06:39:45.180704+00:00
- Polygon adjusted daily market bars · 2026-10-26T13:50:42.854172+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-26T13:50:42.850835+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-26. For educational purposes only; not investment advice.