Southern Copper shares surge 5.35% intraday as Tia Maria project progress and global copper supply concerns drive revenue optimism.

Southern Copper surged 5.35% intraday following progress updates on its Tia Maria copper project in Peru, which the company linked to higher revenue expectations starting in 2026. The project’s advancement aligns with growing concerns over global copper supply shortages driven by demand for electrification, renewable energy, and data technologies. Recent earnings highlighted record 2025 sales of $13.4B and a projected $16B revenue target for 2026, supported by a forecasted copper deficit. Analysts raised price targets, including Morgan Stanley’s $156 target, while the company announced a $1 cash dividend and stock dividend, signaling strong cash flow. Risks such as project execution delays and geopolitical challenges in Peru remain, but the combination of project expansion, supply-side optimism, and robust earnings positioned SCCO to benefit from tightening copper markets, directly driving the intraday rally.