Southern Copper Corp (SCCO) Insider Buys Over 150,000 Shares

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Southern Copper Corp (NYSE:SCCO), saw an insider raise their position to the company through a transaction officially filed today, August 22nd.  Chairman of the Board Mota Larrea German Velasco picked up 170,000 shares of common stock at an average price of $32.736 per share. Moreover, following the completion of this transaction, Velasco has a total of 419,367 shares directly invested in the company.
A $26.29 billion market cap company, Southern Copper Corp (NYSE:SCCO) is an integrated copper producer. The Company produces copper, molybdenum, zinc and silver. As well, there are multiple hedge funds involved with the company. Richard Chilton‘s Chilton Investment Company reported a 66% increase in its activity last quarter, now holding 847,268 shares worth about $25.7 million; while Billionaire Israel Englander‘s Millennium Management hedge fund went the other direction, lowering its holdings by 38% over the last fiscal quarter, and now has 694,008 shares worth about $21 million.
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.
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