Southern Copper (SCCO) Soars 8.4%: Is Further Upside Left in the Stock?

Core Viewpoint - Southern Copper (SCCO) shares experienced an 8.4% increase, attributed to rising copper prices and significant trading volume [1][2]. Company Performance - Southern Copper is expected to report quarterly earnings of $1.11 per share, reflecting a year-over-year decline of 3.5%, while revenues are projected to be $3.09 billion, marking a 5.3% increase from the previous year [3]. - The consensus EPS estimate for Southern Copper has been revised 11.1% higher in the last 30 days, indicating a positive trend that may lead to further price appreciation [4]. Industry Context - The rise in Southern Copper's stock is linked to higher copper prices, which surged 3.77% to $4.84 per pound due to Freeport-McMoRan Inc. declaring force majeure at its Grasberg mine, impacting supply [2]. - Other companies in the non-ferrous mining industry, such as Energy Fuels, also showed positive stock performance, with Energy Fuels closing 1.2% higher [5].