Mining stocks are in correction mode with much of the weakness driven by a soaring U.S. dollar. However, the dollar may now be due for a bit of a rest. A stable dollar could help mining stocks like Teck Resources Ltd. which appear technically oversold. Recent insider buying reinforces the view that a rebound for Teck may be near. Since September 19, a director has bought 5,000 shares, an officer 1,000 while 10-per-cent holder the Caisse de dépôt et placement du Québec picked up 410,700 shares.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Infographic reflects public-market transactions of common shares or unit trusts by company officers and directors.