Strong Insider Buying in Canadian Gold Stocks
Interesting piece this morning from INK Research on the strenght of insiders buying in Canadian gold companies. As the miners languish at historical low prices due to rising production costs and an indigestion of uneconomical projects, insiders are now seizing on the opportunity betting on a turn around. According to INK Research, gold stocks on the TSX are seeing seven inside buyers for every one inside seller. This ratio has been doubling since mid January and is an extreme value usually associated with major bottoms. Insiders are usually early buyers and market moves may follow with a six to thirtysix month lag.