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Major copper miner operating mines and smelters in Peru and Mexico, majority-owned by Grupo Mexico.
Major copper miner operating mines and smelters in Peru and Mexico, majority-owned by Grupo Mexico.
Sells copper and the molybdenum, zinc and silver mined alongside it at market prices, from mines in Peru and Mexico that feed its own smelters. Grupo Mexico holds a majority stake and controls it. Growth depends on long-delayed expansions such as Tia Maria in Peru, which has faced local opposition.
Moat: narrow (scale, cost advantage). Large, low-cost integrated Peru/Mexico copper mines give a favorable position on the global cost curve.
Headquarters: Phoenix, Arizona, US (Peru/Mexico operations) · Founded: 1952 · Employees: 16,617
Size Southern Copper (SCCO) is a United States Materials company (Other Metals/Minerals) with a market value of $143B, the 84th largest of 3,117 United States companies the cockpit tracks. Shares closed at $167.27 on 6 Nov 2026.
Performance Over six months the shares fell 8.8%, against -18.5% for the median peer and -1.1% for the United States market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 38.7% over the last twelve months (peer median +21.9%); the operating margin is 58.6% (peer median 18.7%).
Valuation It trades at 21.5× forward earnings against a peer median of 14.2× (4th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 45.4 points above its cost of capital (10.4% WACC).
Credit Southern Copper has 5 bonds outstanding ($6.05B), rated BBB+ by the agencies and trading like BBB at a weighted spread of 111 bp.
Short interest Short interest is 1.2% of the free float (15 Oct 2026).
Next results Next results expected around 2 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $17.1B | $13.4B | $11.4B | $9.90B | $10.0B |
| Revenue growth | — | +17% | +16% | -2% | — |
| Gross profit | $10.2B | $7.14B | $5.69B | $4.32B | $4.56B |
| EBITDA | $10.9B | $7.87B | $6.40B | $5.03B | $5.23B |
| Net income | $6.36B | $4.33B | $3.38B | $2.43B | $2.64B |
| Free cash flow | $5.60B | $3.43B | $3.39B | $2.56B | $1.85B |
| Capital expenditure | $1.80B | $1.33B | $1.03B | $1.01B | $948M |
| Total debt | $8.60B | $7.41B | $7.00B | $7.03B | $7.10B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Southern Copper SCCO | $143B | -9% | +39% | 59% | 21.5× | 6.8% |
| Freeport-McMoRan FCX | $85.3B | -4% | 0% | 24% | 14.3× | 16.3% |
| Rio Tinto RIO.L | $144B | -21% | +11% | 27% | 10.3× | 5.6% |
| BHP Group Ltd Sponsored American Depositary Receipt Repr 2 BHP | $198B | -6% | +15% | 39% | 15.7× | -2.9% |
| Antofagasta ANTO.L | $41.3B | -21% | +20% | 44% | 20.8× | 17.7% |
| Glencore GLEN.L | $78.0B | -14% | +27% | 2% | 10.9× | n/a |
| First Quantum Minerals FM.TO | $19.5B | -1% | +28% | 23% | 15.2× | n/a |
| Lundin Mining LUN.TO | $18.1B | -18% | +29% | 36% | 14.1× | 15.2% |
| Zijin Mining 601899.SS | $109B | -15% | +16% | 30% | 9.6× | -10.2% |
| Ivanhoe Mines IVN.TO | $8.43B | -26% | +109% | 7% | 18.9× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SCCO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.8% | -11.7% | 7th lowest of 21 |
| 6-month return | -8.8% | -18.5% | 8th highest of 21 |
| Distance from 52-week high | -24.5% | -31.0% | 6th highest of 21 |
| Revenue growth (TTM) | +38.7% | +21.9% | 5th highest of 21 |
| Operating margin | 58.6% | 18.7% | highest of 21 |
| Forward P/E | 21.5× | 14.2× | 4th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 6.8% | 11.9% | 7th least demanding of 15 |
| Growth delivered (Del g) | +10.9% | +9.8% | 6th highest of 15 |
| Hurdle (Req g minus delivered) | -4.1 pp | +1.3 pp | 5th least demanding of 15 |
| ROIC minus cost of capital | +45.4 pp | +1.9 pp | 2nd highest of 21 |
| EV / EBITDA | 13.1× | 9.2× | 5th most expensive of 18 |
| Net debt / EBITDA | 0.1× | 0.7× | 3rd least indebted of 19 |
| Bond spread | 111 bp | 113 bp | 4th tightest of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Southern Copper SCCO | United States | $143B | -9% | +39% | 59% | 21.5× | 6.8% | +10.9% |
| Rio Tinto RIO.L | United Kingdom | $144B | -21% | +11% | 27% | 10.3× | 5.6% | +4.7% |
| Freeport-McMoRan FCX | United States | $85.3B | -4% | 0% | 24% | 14.3× | 16.3% | +12.6% |
| Anglo American AAL.L | United Kingdom | $53.7B | -5% | -14% | 23% | 29.6× | 17.0% | -6.7% |
| Antofagasta ANTO.L | United Kingdom | $41.3B | -21% | +20% | 44% | 20.8× | 17.7% | +10.3% |
| Teck Resources TECK-B.TO | Canada | $29.9B | +3% | +44% | 34% | 16.2× | 4.6% | +3.7% |
| Hindustan Zinc HINDZINC.NS | India | $25.4B | -11% | +57% | 51% | 11.8× | 1.4% | +11.7% |
| ATI ATI | United States | $23.9B | +11% | +9% | 18% | 28.0× | 20.6% | +9.0% |
| Hindalco Industries HINDALCO.NS | India | $22.7B | -9% | +20% | 11% | 8.6× | n/a | n/a |
| First Quantum Minerals FM.TO | Canada | $19.5B | -1% | +28% | 23% | 15.2× | n/a | n/a |
| Lundin Mining LUN.TO | Canada | $18.1B | -18% | +29% | 36% | 14.1× | 15.2% | +13.9% |
| China National Uranium 001280.SZ | China | $17.9B | -29% | +15% | 14% | 47.7× | n/a | n/a |
| JX Advanced Metals 5016.T | Japan | $14.6B | -49% | +30% | 11% | 12.7× | 22.2% | -18.6% |
| Boliden BOL.ST | Sweden | $14.6B | -4% | +23% | 16% | 11.3× | 0.6% | +10.7% |
| Korea Zinc 010130.KS | South Korea | $14.4B | -39% | +53% | 8% | 16.2× | n/a | n/a |
| Jiangxi Copper 0358.HK | Hong Kong | $14.3B | -36% | +22% | 4% | 4.7× | n/a | n/a |
| KGHM Polska Miedz KGH.WA | Poland | $14.1B | -27% | +27% | 20% | 6.4× | 1.6% | +9.2% |
| Carpenter Technology CRS | United States | $13.8B | -35% | +10% | 23% | 20.0× | 17.4% | +16.2% |
| South32 S32.AX | Australia | $13.7B | -1% | -4% | 15% | 12.7× | 6.3% | +3.2% |
| China Tungsten & Hightech Materials 000657.SZ | China | $13.2B | -34% | +66% | 16% | 21.0× | n/a | n/a |
| Sumitomo Metal Mining 5713.T | Japan | $13.2B | -19% | +22% | 14% | 8.1× | 8.5% | +13.5% |
Southern Copper has 5 bonds outstanding with $6.05B face value. The agencies rate it BBB+; its bonds trade like BBB. Weighted yield 6.11%, a spread of 111 bp over government bonds.