Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Grasberg Slips, Copper Rips: Sulfuric Acid Shortages and Diesel Costs Add Fuel

Copper Price Correction: Four Stocks To Look At

Copper: China Copper Concentrate Imports Show No Signs Of Letting Up

Lundin Mining Corp (LUN CN) Q1 FY2026: Strong, No Major Diesel/Sulfuric Acid Concerns

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<ul>
<li>Record 2Q26: net sales $4,289mm (+41%), EBITDA $2,856mm (+60%), net income $1,670mm (+72%), on LME copper of $6.04/lb.</li>
<li>Cash cost $0.05/lb net of by-products, net debt down to $665mm, and 2026 copper guidance nudged to 917kt despite weaker Cuajone grades.</li>
<li>2026e EPS $8.33, P/E 22.4x, EV/EBITDA 14.4x at $186.71; sensitivity spans $4.11 to $12.56 EPS on copper of $3.40 to $8.40.</li>
</ul>


Record 2Q26: net sales $4,289mm (+41%), EBITDA $2,856mm (+60%), net income $1,670mm (+72%), on LME copper of $6.04/lb.
Cash cost $0.05/lb net of by-products, net debt down to $665mm, and 2026 copper guidance nudged to 917kt despite weaker Cuajone grades.
2026e EPS $8.33, P/E 22.4x, EV/EBITDA 14.4x at $186.71; sensitivity spans $4.11 to $12.56 EPS on copper of $3.40 to $8.40.


Southern Copper (SCCO US) 2Q FY26 Results/Concall Update: >13,000 USD/Ton Copper Driving Upgrades