By Gary Lamphier
Edmonton Journal
Corporate insiders see upside in Canadian stocks as the new year begins, according to the latest weekly report from Vancouver-based INK Research, which tracks insider buying and selling activity.
The firm’s INK Indicator – which measures the level of insider stock buying versus selling – currently sits at 148 per cent, the firm says. In other words, there are nearly 1.5 stocks on the Toronto Stock Exchange with key insider buying for every stock with insider selling.
“As measured by our indicators, we enter 2013 with basic materials (stocks) having the most insider buying among the 10 top-level sectors. Our indicator for the sector begins 2013 above 300 per cent,” INK says.
“Most of the buying is in the highest-risk junior exploration stocks, although more familiar producers such as Barrick Gold (full disclosure: a stock this writer owns) and Osisko Mining top the list of names in the sector with key buying. Sentiment in the traditionally high beta energy sector is not far behind at just under 300 per cent.”