SCCO
NYSE · Basic Materials · Copper · US
Research · Oct 30, 2026
Copper Mining Shifts Output Toward Sulfuric Acid Sales
Capstone paused heap leach while First Quantum sacrificed about 1,000 tonnes of copper to sell 70,000 tonnes of high-priced sulfuric acid.
Research · Sep 27, 2026
[SCCO] Southern Copper: Q3 2026 earnings preview, can copper prices offset Peru output declines?
Southern Copper grew Q2 2026 revenue 40.6% to $4.29 billion even as copper output fell 3.5%; Q3 tests whether Peru grades stabilize and by-product credits hold.
Research · Sep 3, 2026
[SCCO] Southern Copper Thesis 2026: Buenavista Expansion Compounds Low-Cost Copper Optionality
Southern Copper FY2025 revenue ~$11.85B with adj. EBITDA ~$5.95B at ~50% margin as copper production reached ~985K tonnes at industry-leading $1.30/lb cash cost. LME copper averaged ~$4.45/lb (vs ~$3.85/lb FY2023 trough). Each $0.10/lb copper price = ~$110M EBITDA leverage. FY2026 thesis: Buenavista zinc concentrator (commissioning FY2026) adds copper + zinc capacity; structural copper deficit narrative (EV adoption, grid electrification, AI data center electrical infrastructure outpacing primary supply growth) supports $4.50-5.00/lb sustained pricing; dividend ~80% of distributable earnings = direct copper price exposure for income; Grupo Mexico controlling shareholder limits free float.
Research · Aug 25, 2026
Molybdenum and Tungsten Mining Turns to Unstudied Deposits After China Export Curbs
Erdene and Largo say buyers are approaching molybdenum and tungsten assets with no current study - one pre-PEA, one idle since 2012 - after China tightened export licensing.
Research · Aug 25, 2026
Tungsten and Molybdenum Mining Draws Buyers Before Feasibility Studies
Erdene and Largo told August 2026 calls that Asian buyers and unsolicited bidders approached their undeveloped molybdenum and tungsten assets before any study.