Surging metal prices drive Southern Copper to record Q2, with a $3.23/share dividend declared

summarizeSummary

Driven by surging metal prices, Southern Copper posted record Q2 2026 results, declared a $3.23/share combined dividend, and advanced its growth projects Tia Maria and El Pilar.

check_boxKey Events · Earnings and Guidance · SCCO

• Record Q2 Financial Results

  All quarterly records: net sales of $4,289.0M (+40.6% YoY), net income of $1,670.0M (+71.6% YoY), and adjusted EBITDA of $2,856.0M (+59.5% YoY).

• Dividend Declaration

  The board authorized a quarterly cash dividend of $1.10/share and a stock dividend of 0.0120 shares/share, for a total estimated value of $3.23/share, payable August 27, 2026.

• Project Pipeline Progress

  Tia Maria project is 42% complete, with initial production expected in 2H27; El Pilar project will begin early site preparation in September 2026, targeting production in 2H29.

• Strong Cash Generation

  Operating cash flow reached $3,683.0M in 6M26, up 116.9% YoY; cash and short-term investments totaled $7.3B at quarter-end.

auto_awesomeAnalysis · SCCO · Energy & Transportation

Southern Copper delivered its strongest quarter ever, with net sales, net income, and adjusted EBITDA all hitting records. A 71.6% jump in net income was fueled by sharply higher copper, molybdenum, zinc, and silver prices, more than offsetting a modest decline in production. Signaling confidence in the cash flow outlook, the board declared a combined cash and stock dividend worth an estimated $3.23 per share. The Tia Maria project reached 42% completion and remains on track for first production in the second half of 2027, while the new El Pilar project in Mexico is set to begin site preparation in September. With $5.7 billion in cash and short-term investments and operating cash costs near zero after by-product credits, the company is generating enormous free cash flow at current metal prices.