Southern Copper (SCCO) slides as copper prices drop sharply and tariff uncertainty weighs on sentiment

Southern Copper Corporation (SCCO) is down 10.1% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is a sharp downdraft in copper prices, which typically pressures copper producers immediately due to lower expected realized pricing and sentiment around near-term margins. Ongoing U.S. tariff rule changes and timelines for metals have also been a source of uncertainty, adding to volatility across the copper complex.

Details:

COMEX copper futures fell about 3.3% to roughly $6.32 per pound, a sizable one-day move for the underlying commodity that can translate into outsized equity moves for leveraged producers.

A new U.S. Section 232 tariff modification framework for aluminum, steel, and copper imports was announced, with implementation details and effective dates that could change trade flows and pricing dynamics.

Southern Copper’s most recent quarterly filing showed year-over-year declines in copper production for the quarter, which can heighten sensitivity to any pullback in copper prices.

This could also reflect position-unwinding after a strong run in copper-related equities, where a commodity pullback can trigger faster profit-taking.

Sources:

SEC, PwC, National Business Daily, Associated Press

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$SCCO Insider Trading Activity

$SCCO insiders have traded $SCCO stock on the open market 8 times in the past 6 months. Of those trades, 0 have been purchases and 8 have been sales.

Here’s a breakdown of recent trading of $SCCO stock by insiders over the last 6 months:

LERDO DE TEJADA LEONARDO CONTRERAS sold 9,248 shares for an estimated $1,954,426
SANCHEZ MEJORADA ENRIQUE CASTILLO sold 4,587 shares for an estimated $997,167
BONILLA LUIS MIGUEL PALOMINO has made 0 purchases and 6 sales selling 600 shares for an estimated $108,412.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$SCCO Hedge Fund Activity

We have seen 441 institutional investors add shares of $SCCO stock to their portfolio, and 432 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

CAPITAL WORLD INVESTORS added 2,264,922 shares (+35.2%) to their portfolio in Q1 2026, for an estimated $385,843,958
ACADIAN ASSET MANAGEMENT LLC added 1,718,311 shares (+1129.0%) to their portfolio in Q1 2026, for an estimated $292,725,276
GOLDMAN SACHS GROUP INC removed 1,388,519 shares (-48.7%) from their portfolio in Q1 2026, for an estimated $236,543,098
AGF MANAGEMENT LTD added 1,209,093 shares (+1873.6%) to their portfolio in Q1 2026, for an estimated $208,036,541
1832 ASSET MANAGEMENT L.P. removed 1,055,919 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $179,882,559
JPMORGAN CHASE & CO removed 968,988 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $165,073,307
MIRAE ASSET GLOBAL ETFS HOLDINGS LTD. added 788,996 shares (+46.6%) to their portfolio in Q1 2026, for an estimated $134,410,518

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$SCCO Analyst Ratings

Wall Street analysts have issued reports on $SCCO in the last several months. We have seen 0 firms issue buy ratings on the stock, and 3 firms issue sell ratings.

Here are some recent analyst ratings:

JP Morgan issued a "Underweight" rating on 01/23/2026
UBS issued a "Sell" rating on 01/21/2026
Itau BBA issued a "Underperform" rating on 12/23/2025

To track analyst ratings and price targets for $SCCO, check out Quiver Quantitative's $SCCO forecast page.

$SCCO Price Targets

Multiple analysts have issued price targets for $SCCO recently. We have seen 8 analysts offer price targets for $SCCO in the last 6 months, with a median target of $146.5.

Here are some recent targets:

Matthew Murphy from Barclays set a target price of $148.0 on 05/22/2026
Myles Allsop from UBS set a target price of $145.0 on 05/21/2026
Alfonso Salazar from Scotiabank set a target price of $135.0 on 05/15/2026
Timna Tanners from Wells Fargo set a target price of $171.0 on 05/01/2026
Rodolfo Angele from JP Morgan set a target price of $127.0 on 04/10/2026
Carlos De Alba from Morgan Stanley set a target price of $160.0 on 04/09/2026
Caio Ribeiro from B of A Securities set a target price of $175.0 on 02/26/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.