Hot Hedge Fund Activity: PKX, NEM, CVE, KALU, ECA, MTX, WLK, WIRE, XEC

Wall St. Watchdog reveals information regarding Third Avenue Management’s top holdings in the Basic Materials sector for the quarter ending September 30th, 2011. The firm held 17 stocks in the Basic Materials sector at the end of the quarter with an aggregate market value of $39.872 million.

  • Posco (NYSE:PKX): On 06/30/2011, Third Avenue Management reported holding 475,537 shares with a market value of $51,652,830. This comprised 26.68% of the total portfolio. On 09/30/2011, Third Avenue Management reported holding 334,302 shares with a market value of $25,410,296. This comprised 19.85% of the total portfolio. The net change in shares for this position over the two quarters is -141,235. About Company: POSCO manufactures various types of steel products. The Company produces hot rolled steel, cold rolled steel, stainless steel, and other forms of steel. The products are mainly used for automobile, construction, and shipbuilding industries.
  • Newmont Mining Corp. (NYSE:NEM): On 06/30/2011, Third Avenue Management reported holding 43,721 shares with a market value of $2,359,622. This comprised 1.22% of the total portfolio. On 09/30/2011, Third Avenue Management reported holding 50,587 shares with a market value of $3,184,452. This comprised 2.49% of the total portfolio. The net change in shares for this position over the two quarters is 6,866. About Company: Newmont Mining Corporation acquires, explores, and develops mineral properties. The Company produces gold from operations in the United States, Australia, Peru, Indonesia, Ghana, Canada, New Zealand and Mexico. Newmont also mines and processes copper in Indonesia.
  • Cenovus Energy Inc. (NYSE:CVE): On 06/30/2011, Third Avenue Management reported holding 117,946 shares with a market value of $4,441,846. This comprised 2.29% of the total portfolio. On 09/30/2011, Third Avenue Management reported holding 94,228 shares with a market value of $2,893,742. This comprised 2.26% of the total portfolio. The net change in shares for this position over the two quarters is -23,718. About Company: Cenovus Energy Inc. is an integrated oil company. The Company comprises natural gas, crude oil, and natural gas liquids reserves. Cenovus Energy has established natural gas and crude oil production in Alberta and Saskatchewan as well as refineries in Illinois and Texas.
  • Kaiser Aluminum Corporation (NASDAQ:KALU): On 06/30/2011, Third Avenue Management reported holding 44,514 shares with a market value of $2,431,355. This comprised 1.26% of the total portfolio. On 09/30/2011, Third Avenue Management reported holding 41,334 shares with a market value of $1,830,269. This comprised 1.43% of the total portfolio. The net change in shares for this position over the two quarters is -3,180. About Company: Kaiser Aluminum Corporation produces alumina, primary aluminum, and fabricated aluminum products. The Company also supplies alumina and primary aluminum in domestic and international markets.
  • Encana Corp. (NYSE:ECA): On 06/30/2011, Third Avenue Management reported holding 148,425 shares with a market value of $4,570,006. This comprised 2.36% of the total portfolio. On 09/30/2011, Third Avenue Management reported holding 95,134 shares with a market value of $1,827,524. This comprised 1.43% of the total portfolio. The net change in shares for this position over the two quarters is -53,291. About Company: Encana Corporation explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids. The Company operates in North and South America.
  • Minerals Technologies Inc. (NYSE:MTX): On 06/30/2011, Third Avenue Management reported holding 17,908 shares with a market value of $1,187,121. This comprised 0.61% of the total portfolio. On 09/30/2011, Third Avenue Management reported holding 23,494 shares with a market value of $1,157,549. This comprised 0.9% of the total portfolio. The net change in shares for this position over the two quarters is 5,586. About Company: Minerals Technologies Inc. is a resource- and technology-based organization that develops and produces performance-enhancing minerals, mineral-based, and synthetic mineral products. The Company’s products are used for paper, steel, polymer, and other manufacturing industries on a worldwide basis.
  • Kinross Gold Corporation (NYSE:KGC): On 06/30/2011, Third Avenue Management reported holding 63,716 shares with a market value of $1,006,713. This comprised 0.52% of the total portfolio. On 09/30/2011, Third Avenue Management reported holding 62,906 shares with a market value of $929,751. This comprised 0.73% of the total portfolio. The net change in shares for this position over the two quarters is -810. About Company: Kinross Gold Corporation is involved in the exploration, development, and production of gold in countries located around the world. The Company currently has operations in the United States, Brazil, Chile, Ecuador and Russia.
  • Westlake Chemical Corp. (NYSE:WLK): On 06/30/2011, Third Avenue Management reported holding 28,909 shares with a market value of $1,500,377. This comprised 0.78% of the total portfolio. On 09/30/2011, Third Avenue Management reported holding 19,479 shares with a market value of $667,740. This comprised 0.52% of the total portfolio. The net change in shares for this position over the two quarters is -9,430. About Company: Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and fabricated products. The Company serves a range of consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, and residential and commercial construction.
  • Encore Wire Corp. (NASDAQ:WIRE): On 06/30/2011, Third Avenue Management reported holding 34,082 shares with a market value of $825,466. This comprised 0.43% of the total portfolio. On 09/30/2011, Third Avenue Management reported holding 25,642 shares with a market value of $527,712. This comprised 0.41% of the total portfolio. The net change in shares for this position over the two quarters is -8,440. About Company: Encore Wire Corporation manufactures copper electrical building wire and cable. The Company supplies residential wire for interior wiring in homes, apartments, and manufactured housing. Encore also manufactures wire for commercial and industrial buildings. The Company’s customers are wholesale electrical distributors that serve both the residential and commercial wire markets.
  • Cimarex Energy Co. (NYSE:XEC): On 06/30/2011, Third Avenue Management reported holding 2,116 shares with a market value of $190,271. This comprised 0.1% of the total portfolio. On 09/30/2011, Third Avenue Management reported holding 7,730 shares with a market value of $430,561. This comprised 0.34% of the total portfolio. The net change in shares for this position over the two quarters is 5,614. About Company: Cimarex Energy Co. explores for and produces crude oil and natural gas in the United States. The Company conducts activities primarily in Oklahoma, Kansas, Louisiana, and Texas.

(Note: Data regarding Third Avenue Management’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)

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