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Thursday 10/1 Insider Buying Report: SCCO, PAA

Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.

At Southern Copper Corp ( SCCO ), a filing with the SEC revealed that on Tuesday, Chairman of the Board German Larrea Mota Velasco purchased 122,600 shares of SCCO, at a cost of $25.87 each, for a total investment of $3.17M. So far Velasco is in the green, up about 6.8% on their purchase based on today's trading high of $27.62. Southern Copper Corp is trading up about 2% on the day Thursday. Before this latest buy, Velasco purchased SCCO on 4 other occasions during the past year, for a total investment of $18.16M at an average of $26.80 per share.

And on Monday, Director John T. Raymond bought $700,000 worth of Plains All American Pipeline, L.P. ( PAA ), buying 25,000 shares at a cost of $28.00 each. This buy marks the first one filed by Raymond in the past twelve months. Plains All American Pipeline, L.P. is trading up about 3.1% on the day Thursday. So far Raymond is in the green, up about 12.5% on their buy based on today's trading high of $31.49.

VIDEO: Thursday 10/1 Insider Buying Report: SCCO, PAA

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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