Jim Cramer discussed Southern Copper Corporation (NYSE: SCCO) after a caller asked about adding to a position in the stock. Cramer said, "Look, I don’t mind Southern Copper, but copper has run a great deal, and you’ve got what I call a parabolic move in Southern Copper. It was up $5 today. It’s no longer got a… It’s 1.98% yield is all you get. The stock’s up 25% this year. I gotta tell you… I think you’re late. I can’t condone it."
Southern Copper Corporation focuses on mining, smelting, and refining copper, along with processing molybdenum, zinc, silver, gold, and sulfuric acid. On January 13, Wells Fargo raised the company's stock price target to $182 from $144, while maintaining an Equal-Weight rating.
The firm expects strong copper and aluminum performance in 2026 due to limited new supply in the first half of the year. Wells Fargo also believes that 50% tariffs on steel and aluminum imports will likely stay in place, with US prices remaining elevated despite minor USMCA trade concessions.