Insider Trading at Southern Copper Corp (SCCO): Mota Larrea German Velasco Buys 155,000 Shares

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Mota Larrea German Velasco, Chairman of the Board at Southern Copper Corp (NYSE:SCCO) acquired on August 28th through an open market transaction 155,000 shares of Common Stock. There were bought at a price of $32.46 each for a total value of over five million dollars. Following the filing, he directly owns 819,367 shares. Mr. Velasco’s has made several share purchases this year, having acquired since April 572,593 shares at an average weighted price of $31.50 each.

In the same way, Southern Copper Corp (NYSE:SCCO)’s major hedge fund shareholder of record, Richard Chilton’s Chilton Investment Company –owner of 847,268 shares- has increased its participation in the company by a 66%. However, other hedge fund shareholders like Israel Englander’s Millennium Management –owner of 694,008 shares-  and Jacob Gottlieb’s Visium Asset Management -owner of 373,630 shares- have decided to reduce its exposure to the $27.7 billion firm. They have done so by a 38% and 29% respectively.

Disclosure: Pamela Gaviño holds no position in any of the stocks and funds mentioned.

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