Grupo Mexico profit jumps 56 percent as copper guidance trimmed

Grupo Mexico reported third quarter net profit of 2 billion dollars, up 56 percent on a year earlier, and cut its 2026 copper production guidance to 1.026 million metric tons from 1.034 million tons.

Why it matters: One of the world's largest copper producers is earning far more from prices while producing slightly less metal, and the guidance trim tightens the expected 2026 supply base at the margin.

Data as of Reuters report carried by Mining.com, based on Grupo Mexico's Tuesday filing for the quarter through September 2026, read in full. Single wire source. Developing item.

Grupo Mexico’s third quarter net profit rose 56 percent from a year earlier to 2 billion dollars, as revenue climbed 38 percent to 6.33 billion dollars and earnings before interest, taxes, depreciation and amortisation rose 50.5 percent to 3.77 billion dollars, beating the 1.78 billion dollar profit and 5.81 billion dollar revenue estimates of analysts polled by LSEG. Higher metal prices drove the result even as copper production fell 1.9 percent to 260,322 tons, with declines in Peru and at Asarco in the United States partly offset by higher output in Mexico.

The group lowered its 2026 copper production guidance to 1.026 million metric tons from a previous forecast of 1.034 million tons.

Grupo Mexico profit jumps 56 percent as copper guidance trimmed

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