On May 16, Iamgold Corp. shares hit a 52-week low of $9.31 on the TSX. The stock had plenty of company as the iShares S&P/TSX Global Gold Index Fund also hit a one-year low on the same day. Insiders at Iamgold seem to sense a buying opportunity as three of them have been buying recently. Since June 8, two directors and one officer of Iamgold have bought a combined total of 11,600 shares in the public market between the price of $11.74 and $12.50.
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.