Southern Copper Posts Record 3Q26: Net Income $1.80B (+62.7%), Sales $4.70B; Raises Dividend
SCCO sits 74% above its 52-week low of $115.686.
Summary
Southern Copper reported record 3Q26 net income of $1.80 billion, up 62.7%, on record sales of $4.70 billion driven by a 44% rise in copper prices, and authorized a $1.30 cash dividend plus a 0.0106-share stock dividend.
Key Events · Earnings and Guidance · SCCO
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Record 3Q26 Results on Metal Prices
Net sales of $4,696.6M (+39.1% YoY) and net income of $1,801.8M (+62.7%) were quarterly records, with EPS of $2.15 versus $1.32. LME copper averaged $6.41/lb versus $4.44/lb a year ago, a 44.4% increase.
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Volumes Fell While Prices Surged
Mined copper production was 232,396 tonnes in 3Q26, down 1.1% quarter-on-quarter and 2.9% year-to-date at 693,602 tonnes, so the earnings growth came from price rather than output.
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Cash Cost Collapsed to $0.09/lb
Operating cash cost net of by-product credits was $0.09/lb in 3Q26 versus $0.42/lb in 3Q25, and $0.01/lb for the first nine months, as by-product revenue credits rose 30.6% on higher prices.
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Dividend: $1.30 Cash Plus Stock
The board authorized a $1.30 per share quarterly cash dividend and a 0.0106-share stock dividend, payable November 19, 2026 to holders of record November 3, 2026; fractional shares are settled in cash at $197.83.
Analysis · SCCO · Energy & Transportation
The headline risk in this print is that record quarterly sales, EBITDA and net income came almost entirely from price, not volume. LME copper averaged $6.41/lb in 3Q26 versus $4.44/lb a year earlier, a 44% jump, while mined copper output actually fell 1.1%. That leaves the earnings base heavily leveraged to metal prices, and by-product credits pushed cash cost net of by-products down to $0.09/lb, so a turn in copper or molybdenum prices would hit margins hard. Alongside the results, the board declared a $1.30 quarterly cash dividend plus a 0.0106-share stock dividend, payable November 19 to holders of record November 3; the stock dividend adds roughly 1% to the share count, modest but real dilution funded by capitalizing retained earnings rather than cash. Growth spending is accelerating, with $515.8M of capex in the quarter, up 47.7%; Tia Maria is 49.6% complete and targeted for 1H28, while El Pilar has broken ground for 2H29 production. The earnings call is October 22.
How filings like this one have moved
In the 30 days to Oct 21, 2026, 37.5% of the 993 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.86%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SCCO was trading at $200.91 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $170.8B. The 52-week trading range was $115.69 to $220.78. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.