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Copper Hits Record High as Southern Copper Stock Rises

By Markets Desk · 2026-09-19 · 2 min read
A stack of reddish-brown metal ingots in a warehouse
Illustration: Tradingbird

Copper prices reached an all-time high of $14,694 per tonne, driving a 3.28 percent gain for Southern Copper shares to $196.11.

Copper prices on the London Metal Exchange reached an intraday record of USD 14,694 per tonne on September 8, 2026. This level surpassed the previous peak of USD 14,527.50 set in January. Southern Copper Corporation shares responded with a 3.28 percent increase. The stock closed at USD 196.11 on the Nasdaq on September 17, 2026.

The metal’s price strength reflects tight supply conditions in Latin America. Investors have shifted focus to miners with active development pipelines. Southern Copper is positioned to benefit from structural supply constraints. The company cites projects in Peru and Mexico as key growth drivers.

Analysts raise earnings forecasts

Zacks Investment Research reports a 49.4 percent forecast for year-over-year earnings growth. The consensus estimate for earnings per share rose by USD 0.15 over the past 60 days. The new average stands at USD 7.83 per share. The company has posted an average earnings surprise of 6.3 percent in recent quarters.

Analysts assign a Growth Style Score of A to the stock. The Zacks Rank is 3, indicating a Hold rating. A VGM Score of B supports the growth outlook. The pipeline includes projects in Argentina, Chile, Mexico, and Peru.

Valuation exceeds street targets

The current share price is significantly above the consensus target. MarketBeat data shows an average analyst target of USD 146.84. The stock trades near USD 194 to USD 196. Seven analysts issue Sell ratings, five issue Hold ratings, and three issue Buy ratings.

The mixed sentiment results in a rating score of 1.73. This score signals a cautious view despite operational momentum. The stock’s year-to-date performance shows a 104.01 percent increase. This gain reflects the broader rally in copper prices.

Dividend yield remains attractive

Southern Copper offers a forward annual dividend of USD 2.46 per share. The dividend yield stands at 3.6 percent. The payout ratio is 32.9 percent of forward earnings. This structure allows the company to retain capital for growth projects while returning cash to investors.

The balance between payout and reinvestment supports long-term value. The company’s financial position benefits from high metal prices. Supply tightness in key regions continues to support price levels. The market remains focused on the company’s ability to execute development plans.

Based on reporting by AD HOC NEWS, compiled by the Tradingbird desk.

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