Marathon Asset Management Ltd Sells 25,201 Shares of Southern Copper Corporation $SCCO

Marathon Asset Management Ltd cut its holdings in Southern Copper Corporation (NYSE:SCCO - Free Report) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 646,882 shares of the basic materials company's stock after selling 25,201 shares during the quarter. Southern Copper makes up 3.6% of Marathon Asset Management Ltd's holdings, making the stock its 5th biggest holding. Marathon Asset Management Ltd owned approximately 0.08% of Southern Copper worth $92,808,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Rakuten Investment Management Inc. acquired a new position in shares of Southern Copper during the third quarter worth $2,976,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Southern Copper by 2,631.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,441 shares of the basic materials company's stock worth $1,631,000 after buying an additional 12,949 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Southern Copper by 159.8% during the third quarter. Principal Financial Group Inc. now owns 10,308 shares of the basic materials company's stock worth $1,251,000 after buying an additional 6,341 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of Southern Copper by 54.2% during the third quarter. Alps Advisors Inc. now owns 35,647 shares of the basic materials company's stock worth $4,326,000 after buying an additional 12,532 shares in the last quarter. Finally, AE Wealth Management LLC acquired a new position in shares of Southern Copper during the third quarter worth $1,531,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Stock Performance

Shares of Southern Copper stock opened at $169.02 on Wednesday. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. Southern Copper Corporation has a twelve month low of $88.73 and a twelve month high of $223.88. The stock has a market cap of $138.45 billion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 1.69 and a beta of 1.07. The company's fifty day moving average is $178.49 and its 200 day moving average is $168.79.

Southern Copper (NYSE:SCCO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.04. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. The company had revenue of $4.25 billion for the quarter, compared to analysts' expectations of $3.96 billion. Sell-side analysts forecast that Southern Copper Corporation will post 6.97 EPS for the current year.

Southern Copper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $4.00 dividend on an annualized basis and a yield of 2.4%. Southern Copper's dividend payout ratio is 66.12%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Southern Copper in a report on Friday, March 27th. Wall Street Zen downgraded shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Saturday. The Goldman Sachs Group upgraded shares of Southern Copper from a "sell" rating to a "neutral" rating and set a $178.00 price target for the company in a report on Friday, April 10th. Morgan Stanley upped their price target on shares of Southern Copper from $155.00 to $160.00 and gave the stock an "underweight" rating in a report on Thursday, April 9th. Finally, Scotiabank reiterated an "underperform" rating and set a $135.00 price target (up from $133.00) on shares of Southern Copper in a report on Friday. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $144.43.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 193 shares of the company's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $174.60, for a total transaction of $33,697.80. Following the sale, the director owned 1,707 shares of the company's stock, valued at approximately $298,042.20. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 300 shares of company stock worth $52,848 over the last quarter. Corporate insiders own 0.07% of the company's stock.

Southern Copper Company Profile

Southern Copper Corporation NYSE: SCCO is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper's operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.

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