Marathon Asset Management Ltd Sells 3,734 Shares of Southern Copper Co. (NYSE:SCCO)

Marathon Asset Management Ltd decreased its holdings in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 784,938 shares of the basic materials company's stock after selling 3,734 shares during the period. Southern Copper accounts for about 2.0% of Marathon Asset Management Ltd's holdings, making the stock its 11th largest holding. Marathon Asset Management Ltd owned about 0.10% of Southern Copper worth $71,531,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fisher Asset Management LLC raised its position in Southern Copper by 10.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company's stock valued at $342,796,000 after purchasing an additional 283,562 shares during the last quarter. abrdn plc raised its position in Southern Copper by 4.4% during the 4th quarter. abrdn plc now owns 2,849,638 shares of the basic materials company's stock valued at $260,428,000 after purchasing an additional 118,909 shares during the last quarter. State Street Corp raised its position in Southern Copper by 1.0% during the 3rd quarter. State Street Corp now owns 2,728,802 shares of the basic materials company's stock valued at $315,641,000 after purchasing an additional 27,358 shares during the last quarter. JPMorgan Chase & Co. raised its position in Southern Copper by 74.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company's stock valued at $162,283,000 after purchasing an additional 599,610 shares during the last quarter. Finally, Empower Advisory Group LLC raised its position in Southern Copper by 3.3% during the 3rd quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company's stock valued at $116,140,000 after purchasing an additional 32,314 shares during the last quarter. Institutional investors own 7.94% of the company's stock.

Southern Copper Stock Up 5.1 %

Shares of Southern Copper stock traded up $4.38 during midday trading on Wednesday, hitting $90.30. The company had a trading volume of 2,097,233 shares, compared to its average volume of 1,214,543. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The stock has a market capitalization of $70.93 billion, a P/E ratio of 20.90, a P/E/G ratio of 1.90 and a beta of 1.12. The company has a 50 day moving average of $93.95 and a 200 day moving average of $101.28. Southern Copper Co. has a 52-week low of $81.12 and a 52-week high of $129.79.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. On average, equities analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were paid a $0.70 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. This is an increase from Southern Copper's previous quarterly dividend of $0.60. Southern Copper's dividend payout ratio is presently 64.81%.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of research analyst reports. Morgan Stanley upgraded Southern Copper from an "underweight" rating to an "equal weight" rating and reduced their target price for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. upgraded Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 target price on the stock in a report on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $94.81.

Southern Copper Profile

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.