10 Best Mineral Stocks to Buy Right Now

8. Southern Copper Corporation (NYSE:SCCO)

Number of Hedge Fund Holders: 25

Southern Copper Corporation (NYSE:SCCO) is a major player in the global copper industry and operates across Peru, Mexico, Argentina, Chile, and Ecuador. In addition to copper, the company engages in the exploration, mining, smelting, and refining of other base metals. Its assets include open-pit and underground mines, smelting plants, and refineries. With a 12-month return of nearly 26%, SCCO is one of the best material stocks to invest in.

Southern Copper Corporation (NYSE:SCCO) reported strong financial performance during the third quarter of 2024. Earnings per share saw a 46% year-over-year increase with EPS for the third quarter reaching $1.15. Along with higher sales volumes of copper, molybdenum, silver, and zinc, favorable metal prices also helped with the improved performance. Copper rose 10% while zinc climbed 14.5%, and silver surged a whopping 24.7%. Net sales increased to $2.9 billion which was a 17% increase YoY, whereas operating profits grew by 36%. As a result, adjusted EBITDA grew 30.5% year-over-year to $1.68 billion.

The impressive performance for the quarter was attributed to the increase in copper, zinc, and silver production. Copper production rose by 11.5% to 252,219 tons, while silver production increased by 21.5%. What stood out the most was Southern Copper Corporation (NYSE:SCCO)’s zinc production, which advanced by 91% with support from the new Buenavista zinc concentrator.

Due to Southern Copper Corporation’s (NYSE:SCCO) promising financials, production growth, and rising prices, the company is positioned for long-term success. This has led to strong investor confidence.