While spot nickel prices may be down in the dumps, insider activity at Quebec-focused junior Royal Nickel Corp. appears distinctly upbeat. Insiders were buying last month as news hit that Indonesia had banned the export of nickel ore. The purchases continued in February. So far this year, four insiders have bought 623,000 shares at an average price of 39 cents. CEO Mark T.H. Selby was the largest buyer, picking up 270,000 shares. In terms of valuations, the stock is trading at a price-to-book ratio of about 0.6 according to Thomson Reuters.
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.
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- Royal Nickel Corp$0.38-0.01(-1.32%)
- Updated October 21 1:14 PM EDT. Delayed by at least 15 minutes.