Copper Futures Jump 24.2% and Critical Minerals Status Boosts Southern Copper
Southern Copper stands to benefit from a 24.2% rise in copper futures over the year and its inclusion on the USGS critical minerals list with silver and uranium. The Mining - Non Ferrous industry trades at a 16.95x EV/EBITDA multiple versus 17.80x for the S&P 500, highlighting valuation appeal.
1. Metal Price Momentum
Copper futures have climbed 24.2% over the past year, while silver surged 8.6% year to date following a 170% gain in 2025. Gold has advanced 15.3% this year with precios near $5,000 an ounce, and uranium recently averaged $92 per pound after a two-year high of $101.50.
2. Critical Minerals Designation
Copper, silver and uranium were added to the USGS critical minerals list, underscoring strategic importance for energy transition, infrastructure and national security. This designation is expected to draw additional investment and support long-term demand for Southern Copper’s output.
3. Valuation Comparison
The Mining - Non Ferrous industry currently trades at a 16.95x EV/EBITDA multiple, below the S&P 500’s 17.80x multiple. This relative valuation gap may attract capital flows into high-quality producers like Southern Copper that offer leverage to metal price upside.
4. Company Positioning
Southern Copper has prioritized reserve growth, technological upgrades and rigorous cost-control measures to strengthen margins. Investments in digital innovation and operating efficiencies aim to mitigate rising energy and labor costs and support future production expansion.