Southern Copper stock slips 6.15% as Tia Maria delay tests record Q3 profit
Published on 10/30/2026 at 17:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSRecord profit meets project delay
- Southern Copper reported record third-quarter sales, adjusted EBITDA and net income.
- Management moved Tia Maria's expected start from late 2027 to the first half of 2028.
- January is set to bring fuller production and capital-spending guidance for 2027.
Southern Copper stock traded at EUR 161.28 on Lang & Schwarz at 17:04 CET on Friday, October 30, 2026, 6.15 percent below the EUR 171.85 quote cited in the company's October 29 report. The move gives investors a fresh market reference after management paired record quarterly results with a later timetable for Tia Maria.
Record quarter meets project delay
Southern Copper reported record third-quarter net sales of USD 4.7 billion and record net income of USD 1.8 billion for the quarter ended September 30, 2026. Adjusted EBITDA reached USD 3.0 billion, according to the Investing.com earnings call transcript.
The earnings strength came mainly from higher copper and by-product prices rather than increased copper volumes. Copper production declined 1 percent year over year to 232,396 tons, while management said the company expects 2026 copper production of 918,000 tons.
Tia Maria shifts into 2028
Management said during the October 22 earnings call that Tia Maria in Peru is now expected to begin operations in the first half of 2028, later than the previous fourth-quarter 2027 target. The delay reflects longer mechanical-equipment assembly and additional engineering work.
The project was about 50 percent complete at the end of September. Southern Copper has invested USD 884 million in project execution and expects Tia Maria to produce 120,000 tons of SX-EW copper cathodes a year in its early operating years.
The company has not reported a revised capital-expenditure figure for the project. Management plans to provide detailed 2027 production and capital-spending guidance with the January results call, leaving project execution and commodity prices as key factors for the investment case.
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Southern Copper Corporation at a glance
- Company: Southern Copper Corporation
- ISIN: US84265V1052
- US ticker: SCCO
- Primary exchange: NYSE
- Lang & Schwarz quote: EUR 161.28 on October 30, 2026, at 17:04 CET
- Tia Maria: Expected start in the first half of 2028
