Marathon Asset Management Ltd Has $70.42 Million Holdings in Southern Copper Corporation (NYSE:SCCO)

Marathon Asset Management Ltd trimmed its stake in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 753,499 shares of the basic materials company's stock after selling 31,439 shares during the quarter. Southern Copper comprises 2.2% of Marathon Asset Management Ltd's holdings, making the stock its 11th biggest position. Marathon Asset Management Ltd owned about 0.09% of Southern Copper worth $70,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCCO. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Southern Copper in the fourth quarter valued at $30,000. IFP Advisors Inc boosted its stake in shares of Southern Copper by 143.4% during the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock worth $43,000 after acquiring an additional 281 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Southern Copper by 28.0% in the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock worth $48,000 after acquiring an additional 114 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Southern Copper during the first quarter worth $59,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Southern Copper during the fourth quarter worth $60,000. Institutional investors own 7.94% of the company's stock.

Southern Copper Stock Down 2.1%

NYSE:SCCO traded down $2.23 on Friday, hitting $102.41. 3,331,496 shares of the company's stock traded hands, compared to its average volume of 1,212,287. The company has a market cap of $81.54 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 2.43 and a beta of 1.01. Southern Copper Corporation has a 1 year low of $74.11 and a 1 year high of $118.64. The company has a current ratio of 3.71, a quick ratio of 3.22 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $93.23 and a 200-day moving average price of $93.02.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14. The business had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.05 billion. Southern Copper had a net margin of 30.00% and a return on equity of 39.39%. Equities analysts anticipate that Southern Copper Corporation will post 4.66 EPS for the current fiscal year.

Southern Copper Announces Dividend

The business also recently announced a dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were paid a dividend of $0.70 per share. This represents a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, May 2nd. Southern Copper's dividend payout ratio (DPR) is currently 61.27%.

Analyst Upgrades and Downgrades

SCCO has been the subject of a number of recent analyst reports. Wall Street Zen lowered Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Hsbc Global Res upgraded shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Itau BBA Securities raised shares of Southern Copper from an "underperform" rating to a "market perform" rating in a research report on Wednesday, June 11th. UBS Group cut their price target on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research note on Monday, April 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $91.50.

About Southern Copper

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.