There was small insider selling at Barrick Gold Corp. when the stock was trading near the $55 level in late September. However, there were only 5,750 shares sold after exercising options, so we would not consider that to be a negative signal. We are more interested in board chair Peter Munk’s exercise of 300,000 options at $23.80 (U.S.) on Oct. 14. Given where the stock is currently trading, Mr. Munk could easily make more than $6-million (U.S.) in gross profits if he were to sell. If he continues to hold, it would be a bullish sign.
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.
Graph Footnote: Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.