New Gold Inc. hits our screens this week as having an upbeat contrarian insider signal. Contrarian signals tend to be of interest to longer-term value-oriented investors with time horizons of up to five years. Earlier this month, the company reported first-quarter profits of 7 cents per share and reiterated its 2012 guidance that gold production would be between 405,000 to 445,000 ounces. A few days later officer Brett Gagnon bought 14,450 shares. In early April, insiders were also buying. The biggest purchase was by CEO Robert Gallagher who bought 250,000 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.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
Infographic: New Gold insiders buying